BILLIONAIRE Femi Otedola says he is not interested in becoming chairman of FirstBank or its holding company after recently becoming the single largest shareholder in FBN Holdings.
MOtedola now has a shareholding of 7.5 per cent in FBN Holdings following his recent scale-up.
“I am simply an investor who saw an opportunity in the financial institution and decided to take advantage of it through the investment I have made,” the former chairman of Forte Oil Plc told Premium Times today.
“My interest, contrary to speculations is not to become chairman of the bank or its Holdco. Moreover, I am in semi-retirement.”
Otedola praised the financial institution, saying he believes “in allowing competent people run institutions in a professional manner and to the benefit of all the stakeholders.”
The chairman of Geregu Energy Group initially placed second behind chairman of FirstBank Tunde Hassan-Odukale on the shareholding ladder. Otedola first acquired 5.07 per cent shares.
Otedola, who was recently named one of the vice-presidents of Save the Children, is believed to have committed N45 billion to attain his total stake of 2,717,282,140 shares in the group.
