Femi Otedola, the chairman of FBN Holdings, has further cemented his position as the single largest shareholder of the financial services giant by increasing his stake once again.
In a notice to the Nigerian Exchange (NGX), the billionaire confirmed the acquisition of an additional 797,946,415 shares at an average price of N21.58, totaling a staggering N17.2 billion.
This recent purchase elevates his combined stake to 11.64%, making him the only shareholder with a shareholding exceeding 10%.
Just last week, it was reported that Otedola had acquired shares worth N18.9 billion, boosting his stake to 9.41%. With this latest acquisition, his total investment in a matter of days has reached N36.1 billion.
Otedola now holds a combined 4.178 billion shares out of the company’s total of 35.895 billion outstanding shares. Since beginning his investment in FBN Holdings three years ago, he has poured an estimated N102 billion into the company.
As one of only four Nigerian billionaires listed by Forbes, Otedola’s substantial investments continue to underscore his significant influence in the financial sector.
