First Bank Holdings appoints Otedola Board Chairman  

BUSINESS Mogul and billionaire, Femi Otedola, has been appointed as the new chairman of First Bank Nigeria (FBN) Holdings’ board of directors.

The firm announced this in a corporate filing on the Nigerian Exchange Limited (NGX), where it notified investors about the new development.

According to FBN Holdings, Otedola, who is also the chairman of Geregu Power, was appointed after a meeting by its board of directors on January 31, 2024.

The bank said Otedola joined its board on August 15, 2023, as a non-executive director.




    “FBN Holdings Plc (the Company) hereby notifies the Nigerian Exchange Limited and the investing public that at the meeting of the Board of Directors of the Company held today, January 31, 2024, the Board appointed Mr. Olufemi Peter Otedola, CON as the new Chairman of the Board of Directors.

    “He was appointed to the Board of FBN Holdings Plc on 15 August 2023 as a Non-Executive Director. He is a visionary entrepreneur with a track record of pioneering businesses, growing and transforming corporations,” the bank said.

    Otedola, who recently expressed his excitement about his return to the Forbes African Billionaires list after a seven-year hiatus, takes over from the outgoing Chairman of the board, Alhaji Ahmad Abdullahi.

    Stakeholders and analysts are also watching closely for the potential impact of this development on FBN holding.

    Harrison Edeh is a journalist with the International Centre for Investigative Reporting, always determined to drive advocacy for good governance through holding public officials and businesses accountable.

    Join the ICIR WhatsApp channel for in-depth reports on the economy, politics and governance, and investigative reports.

    Support the ICIR

    We invite you to support us to continue the work we do.

    Your support will strengthen journalism in Nigeria and help sustain our democracy.

    If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here


    Support the ICIR

    We need your support to produce excellent journalism at all times.

    -Advertisement-

    Most read