Femi Otedola, the largest single shareholder of First Bank of Nigeria Holdings (FBNH) recently sold down about 834 million shares of FBN Holdings in a deal valued at about N9.28 billion.
According to the notification on website of the Nigerian Exchange, Mr. Otedola and his entities sold about 834,939,764.00 units representing about 30% of his shareholdings in the bank holding company. The sale has reduced his shareholding from about 7.57% to about 5.24%