Fake News Alert: No Shareholder Has Taken Over First Bank

First Bank Nigeria (FBN) Holdings Plc has debunked the news that a shareholder has taken over the bank.

Gatekeepers News reports that FBN Holdings Plc has debunked the media reports that Femi Otedola has acquired a significant shareholding interest of the Company.

FBN Holdings Plc (the Company) debunked this in a statement signed by the Company’s Secretary, Seye Kosoko on Friday, 22 October 2021.

A section of the media (not Gatekeepers News) had reported that Femi Otedola “is now the majority shareholder of the bank with an announcement imminent in the coming days.”

FBN while debunking this in a statement said, “As a listed Company, the shares of FBN Holdings Plc are publicly traded, and sale and acquisition of shares is expected in the normal course of business.”

The Company added that “We (FBN) operate in a regulated environment, which requires notification 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 the public as appropriate.”

FBN further stated that “the Company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions.

“FBN Holdings Plc will always notify the appropriate agencies and authorities whenever it receives any notice of significant shareholding by the Shareholders and the Company’s Registrars.”