Femi Otedola has announced an increase in his shareholdings of First Bank Nigeria Holdings to 7.57%.

This was disclosed in a letter to the bank by Mr. Otedola dated December 9, 2021. The disclosure officially makes him the single largest majority shareholder of the bank at least according to the public disclosure of ownership that has now been made.

Mr. Otedola acquired the additional shares through his proxies Calvados Global Services, Primose Global Concept, Shetland Global, Wells Properties, and Impetus Synergy.

 In a letter addressed to the bank, Mr. Otedola informed the bank that he has now acquired 7.57% ownership in the bank “I have recently acquired additional shares in FBNHoldings Plc (the Company) which has brought my total stake to 7.57% percent of the issued shares capital of the Company.”