Billionaire investor and Chairman of FBN Holdings, Femi Otedola, has strengthened his status as the largest shareholder by acquiring an additional 534,094,407 shares at N30 each, totaling approximately N16 billion. This latest purchase boosts his stake to 13.16%, up from 11.64%.
Otedola’s recent activities include a notable July acquisition of 797,946,415 shares for N17.2 billion, further solidifying his influence over the financial institution. Over the past year, he has invested over N36 billion in FBN, raising his total holdings to 4.712 billion shares out of 35.895 billion outstanding.
Since starting his investment in 2021, Otedola has committed around N102 billion to FBN Holdings, marking a strategic journey that has seen him consistently increase his stake despite occasional reductions. His recent moves highlight a focused effort to consolidate control over one of Nigeria’s oldest financial entities.
