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Breaking! Femi Otedola takes over First Bank

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News reaching BlackBox Nigeria has it that billionaire businessman, Femi Otedola has taken over Nigeria’s oldest bank, First Bank of Nigeria as its largest shareholder.

In what is making the rounds across the news sphere, Otedola has just acquired N30 billion worth of shares making him the largest shareholder in First Bank which is one of the biggest banks in Africa.
Femi Otedola who has in the past invested in the oil and gas industry, real estate, shipping and the financial sectors has over the years remained consistent as one of the country’s biggest players in different sectors.

The son of a former Lagos State governor, Femi is also popular in pop culture as his three daughters are famous in the Nigerian entertainment industry. He has also been rumored in the past to be interested in governing the Centre of Excellence but this remains unconfirmed.

Although, there are no official confirmations as regards Otedola’s takeover of First Bank, the 58-year-old magnate might become the bank’s Chairman in the coming days.

It would be recalled that First Bank has been faced with major financial challenges in recent past which also saw the exit of its first female chairperson, Ibukun Awosika. With Otedola’s intervention, the bank might just be returning to winning ways.

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