Olufemi Otedola Becomes Largest Shareholder in FBN Holdings with New Share Purchase

Olufemi Otedola, chairman of FBN Holdings, has acquired an additional 546,674,034 shares through Calvados Global Services Limited at N21.97 per share, totaling N12.01 billion. This purchase on June 20 raises his direct and indirect holdings to 3,380,462,950 shares.

Otedola’s stake in FBN Holdings has grown significantly since his appointment as chairman in January. His latest acquisition increases his ownership to 9.41 percent, surpassing Barbican Capital Limited, previously the largest shareholder.

This recent transaction also includes an earlier purchase of 316,506,776 shares at N21.91 per share, valued at N6.935 billion, bringing his total investment in FBN Holdings to N18.9 billion.

Source: The Sun