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Tayo Busayo, Abuja
DAILY COURIER – Billionaire businessman and Chairman of FBN Holdings, Femi Otedola, has again increased his stake in the company with the acquisition of an additional 2.22 percent shares in the First Bank of Nigeria.
In the latest acquisition, Otedola, who is also Chairman of Geregu Power PLC, acquired an additional 797,946,415 shares of First Bank at an average price of N21.58, taking his combined stake to 11.64 percent.
This comes just four days after he increased his stakes in the holding company to 9.41 percent.
DAILY COURIER reported on Thursday that Otedola increased his ownership in the bank to 9.41 percent by purchasing N18.9 billion worth of the group’s shares on the NGX.
The latest acquisition cements his position as the single largest shareholder of the company.
He confirmed the latest acquisition in a corporate filing on the Nigerian Exchange Group (NGX), on Monday.
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