Wednesday, 27 October 2021

FirstBank Confirms Odukale As Single-Largest Shareholder, Ranks Otedola Second

FBN Holdings Plc, the holding company of First Bank Nigeria Limited, has confirmed Mr. Tunde Hassan-Odukale as the single-largest shareholder.

The bank said with 5.36 percent equity holding, Hassan-Odukale is its largest single-holder followed by Femi Otedola with a 5.07 percent stake in the Group.

Both Odukale and Otedola are disclosed as the only two substantial shareholders, who have more 5% equity interest in FirstBank Holdings Plc, according to a filing made available to The Nigerian Exchange (NGX).

In a letter addressed to the Director-General of the Nigerian Exchange Limited, FBN Holdings notified the Bourse that Hassan-Odukale holds a cumulative of 5.36 percent of the Group, while Otedola holds a total of 5.07 percent, of the Group’s issued share capital.

While the letter may have been meant to be addressed to the Chief Executive Officer of NGX, as the Exchange has since changed the designation of its leadership to Chief Executive Officer to reflect its private structure.

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