Deputy Chief Executive of Geregu Power Plc and previously Group Executive Director, Finance and Risk Management of Forte Oil Plc (now Ardova Plc), Julius B. Omodayo-Owotuga, has joined FBN Holdings’ Board as a Non-Executive Director.
Gatekeepers News reports that the appointment followed the approval of the Central Bank of Nigeria according to the notification sent by the company secretary to the Nigerian Exchange Limited (NGX).
According to a statement on Tuesday, Omodayo-Owotuga is a finance expert with huge experience in finance, risk management, treasury, internal controls, general administration, procurement, and information technology.
It further explained that while at Forte, he was a member of the Executive Management team, “that restructured a then moribund company into a vibrant industry player. He equally led the capital restructuring, acquisitions, debt capital raise, maiden credit rating, and divestment initiatives.
“Prior to joining Forte Oil Plc, he had responsibility for the Asset and Liabilities Management function at the Africa Finance Corporation.”
The statement added regarding Omodayo-Owotuga, “He is a KPMG trained finance professional who possesses extensive investment experience spanning financial services, power and oil and gas sectors with a proven track record of significant achievements. His two decades work experience spans blue chip companies such as KPMG, Standard Chartered Bank, Africa Finance Corporation (AFC), Forte Oil Plc, MBC International Bank (Now First Bank of Nigeria Limited), and Geregu Power Plc.
“JB is an alumnus of Oxford University’s Said Business School, United Kingdom, IE Business School, Madrid, Spain and the University of Lagos, Lagos, Nigeria. He has a B.Sc. in Accounting and a Masters in Business Administration (with distinction). He is a CFA Charter Holder; a Fellow of The Institute of Chartered Accountants of Nigeria (ICAN), The Chartered Institute of Taxation of Nigeria (CITN) and The Institute of Credit Administration.”
Gatekeepers News reports that the Chairman of Geregu Energy Group, Femi Otedola is the single largest shareholder in First Bank. He had debunked speculations that he was interested in holding a board position in FBN Holdings, the bank or any of the subsidiaries.
Otedola said, “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. My interest, contrary to speculations, is not to become chairman of the bank or its holding company (Holdco). Moreover, I am in semi-retirement.”
He said the hallmark of any good investor is to see opportunities where others do not, stressing that he is convinced that FBN Holdings has a bright future, and is strong, and solid and would remain a dominant player in the Nigerian financial services sector in the foreseeable future.
