The decision to elevate Otedola to the position of chairman was reached at a board meeting today.
First Bank
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- West & Central Africa
Nigeria’s First Bank appoints billionaire businessman Femi Otedola as non-executive director
The move cements Otedola’s position as a leading figure in Nigeria’s business landscape and underscores his influence in the country’s financial sector.
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Otedola owns a substantial 5.57 percent of First Bank of Nigeria Holdings.
- Hot News
Nigerian billionaire Femi Otedola confirmed officially as largest shareholder in First Bank
Otedola is resting pretty. He could now demand seats on the board, or even his appointment as chairman.
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Nigerian billionaires are putting their hard-earned money to work to control First Bank of Nigeria Holdings.
- Hot News
Obafoluke Otudeko wins twice on Nigerian Exchange as stake in First Bank gains $3.2 million in 10 days
The multimillion-dollar gain in Otudeko’s stake can be linked to price movements in the lender’s shares.
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The Central Bank of Nigeria has queried First Bank over its abrupt removal of CEO Adesola Adeduntan.Â