The management of FBN Holdings Plc has denied media reports claiming that billionaire businessman, Mr. Femi Otedola, had acquired majority shares in the bank.
In a statement signed by the company secretary, Mr. Seye Kosoko, the bank said it was yet to receive any notification from the individual mentioned on such acquisition.
It maintained that it operates in a regulated environment which requires notifications of significant shareholding by shareholders to the company where shares are held in different vehicles.
It further stated that the bank will always notify the appropriate agencies and authorities whenever it receives any notice of significant shareholding by the shareholder and the company registrars.
“The attention of FBN Holdings Plc has been drawn to media reports purporting that a certain individual has acquired significant shareholding interest in FBN Holding Plc, therefore making him the majority shareholder in the company.
“As a listed company, the shares of FBN Holding Plc are publicly traded and sale and acquisition of shares is expected in the normal course of business.
“We operate in a regulated environment which required notifications of significant shareholding by shareholders to the company where shares are held in different vehicles, further to which the company will notify the regulators and public as appropriate,” the bank stated.
There have been online reports that Otedola had acquired majority stake in FBN Holdings.
According to reports, Otedola is now the single majority shareholder of the bank with the acquisition of N30 billion worth of the entity’s equities at the Nigerian Exchange.
