First Bank Finally Reveals Shareholder With Single-largest Stake

Related stories

Reflections from Oxford: A Transformational Year at Saïd Business School

Postgraduate in Artificial Intelligence for Business Class of...

Former Football Star and Associates Nabbed in Major Drug Bust at Lagos Airport

By Abiola Olawale The National Drug Law Enforcement Agency (NDLEA)...

Ganduje’s Successor: Forum makes Case for Al-Makura

By Kolawole Ojebisi The North-Central All Progressives Congress, APC, Forum...

Akume Reacts To Sack Rumour, Says Mischief Makers At Work

By Kolawole Ojebisi Secretary to the Government of the Federation...

First Bank of Nigeria Holdings Plc (FBNH), the holding company of First Bank Nigeria Limited, has finally put to rest the speculations that ensued late last week over the ownership of the largest shares in the company.

The FBNH has confirmed that the Chairman of First Bank, Mr. Tunde Hassan-Odukale is the single-largest shareholder in the company, contrary to claims which had suggested that a Nigerian business mogul, Mr. Femi Otedola is the single largest shareholder of the FBN.

Last week, reports had emerged that Otedola may soon take over FBNH as he had acquired a total of N30billion worth of shares. However, FBNH denied the reports, saying it had not received any notification about the said N30 billion worth of shares bought by Odetola.

Few hours later, the FBNH in a statement filed to the Nigerian Exchange Limited (NGX) confirmed it received notification that Otedola acquired 5% equity shares in the company, though significant but not the majority shares. With the confirmation, many had speculated that Otedola holds the single-largest shareholder in the company.

However, the FBNH in a letter issued by its secretary, Seye Kosoko, and addressed to the Director-General of the Nigerian Exchange Limited, revealed that Hassan-Odukale outpaced Otedola to acquire the single-largest shareholder in the company.

According to the letter, Hassan-Odukale has controlling shares in the company with a 5.36 per cent while Otedola owns 5.07 per cent.

The letter showed that Hassan-Odukale acquired most of his shareholding in FBNH in 2021. Breakdown of the data indicated that Hassan-Odukale’s direct shares in the company is 26,231,887 units, while he indirectly owns 1,897,280,212 units in the financial holding company.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

[tds_leads input_placeholder="Your email address" btn_horiz_align="content-horiz-center" pp_msg="SSd2ZSUyMHJlYWQlMjBhbmQlMjBhY2NlcHQlMjB0aGUlMjAlM0NhJTIwaHJlZiUzRCUyMiUyMyUyMiUzRVByaXZhY3klMjBQb2xpY3klM0MlMkZhJTNFLg==" pp_checkbox="yes" tdc_css="eyJhbGwiOnsibWFyZ2luLXRvcCI6IjMwIiwibWFyZ2luLWJvdHRvbSI6IjQwIiwiZGlzcGxheSI6IiJ9LCJwb3J0cmFpdCI6eyJtYXJnaW4tdG9wIjoiMTUiLCJtYXJnaW4tYm90dG9tIjoiMjUiLCJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3NjgsImxhbmRzY2FwZSI6eyJtYXJnaW4tdG9wIjoiMjAiLCJtYXJnaW4tYm90dG9tIjoiMzAiLCJkaXNwbGF5IjoiIn0sImxhbmRzY2FwZV9tYXhfd2lkdGgiOjExNDAsImxhbmRzY2FwZV9taW5fd2lkdGgiOjEwMTksInBob25lIjp7Im1hcmdpbi10b3AiOiIyMCIsImRpc3BsYXkiOiIifSwicGhvbmVfbWF4X3dpZHRoIjo3Njd9" display="column" gap="eyJhbGwiOiIyMCIsInBvcnRyYWl0IjoiMTAiLCJsYW5kc2NhcGUiOiIxNSJ9" f_msg_font_family="downtown-sans-serif-font_global" f_input_font_family="downtown-sans-serif-font_global" f_btn_font_family="downtown-sans-serif-font_global" f_pp_font_family="downtown-serif-font_global" f_pp_font_size="eyJhbGwiOiIxNSIsInBvcnRyYWl0IjoiMTEifQ==" f_btn_font_weight="700" f_btn_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTEifQ==" f_btn_font_transform="uppercase" btn_text="Unlock All" btn_bg="#000000" btn_padd="eyJhbGwiOiIxOCIsImxhbmRzY2FwZSI6IjE0IiwicG9ydHJhaXQiOiIxNCJ9" input_padd="eyJhbGwiOiIxNSIsImxhbmRzY2FwZSI6IjEyIiwicG9ydHJhaXQiOiIxMCJ9" pp_check_color_a="#000000" f_pp_font_weight="600" pp_check_square="#000000" msg_composer="" pp_check_color="rgba(0,0,0,0.56)" msg_succ_radius="0" msg_err_radius="0" input_border="1" f_unsub_font_family="downtown-sans-serif-font_global" f_msg_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_input_font_size="eyJhbGwiOiIxNCIsInBvcnRyYWl0IjoiMTIifQ==" f_input_font_weight="500" f_msg_font_weight="500" f_unsub_font_weight="500"]

Latest stories

NDN
Latest News
Reflections from Oxford: A Transformational Year at Saïd Business SchoolFormer Football Star and Associates Nabbed in Major Drug Bust at Lagos AirportGanduje's Successor: Forum makes Case for Al-MakuraTinubu's Trip To Saint Lucia Not Junketing But For Strategic Engagement With Caribbean Nations, Presidency Replies CriticsAkume Reacts To Sack Rumour, Says Mischief Makers At Work2027: Why Northeners Shouldn't Work Against Tinubu's Re-election Bid -- Shehu SaniRanked: Top 15 Countries by Military Budgets in 2025Charted: Ukraine Is Russia’s Third Deadliest WarUS government warns: Green Cards and Visas will be revoked if ...W'Bank Lists Nigeria, Ukraine, Mali, Libya, Others As Economies Where People Live On Less Than $3/DayGanduje's Resignation: APC Govs React, Say Move Part Of Internal EvolutionHow Nigeria Can Achieve Trillion-dollar Economy --- AfDB[Video] Jonathan Opens Up: How Yar'adua's Aide Withheld Handover Letter To Nat'l Assembly To Create ChaosGambari Mourns, Pays Heartfelt Tribute to Ex-Gov Cornelius Adebayo[Photos] Wike, Fubara, Amaewhule Reunite at Burial in Rivers, Signaling Peace After Tinubu’s Mediation
X whatsapp