FBN Holdings has appointed billionaire businessman Femi Otedola as the new Chairman of its Board of Directors, succeeding Ahmad Abdullahi. The announcement, filed with the Nigerian Exchange Limited, follows Otedola's earlier appointment as a Non-Executive Director in August 2023, ratified by shareholders at the Annual General Meeting. Otedola, listed as the largest shareholder in FBN Holdings, holds 5.65% of shares.
Shareholders express excitement over Otedola's leadership, citing his track record and commitment to dividend payouts.
With a successful stint at Geregu Power Plc, Otedola's dual chairmanship enhances expectations for FBN Holdings' growth. As a major player in the Nigerian capital market, Otedola's recent investments, including a stake in Dangote Cement and Transcorp Plc, underscore his impact on shaping the financial landscape.
Shareholders anticipate positive outcomes, emphasizing dividends and capital appreciation in their expectations for Otedola's leadership at FBN Holdings.
