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Otedola regains position as First Bank major shareholder
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Nigerian billionaire Femi Otedola, the Chairman of FBN Holdings, has regained his position as the majority shareholder of First Bank.
Otedola now holds a 9.41 per cent stake in the bank after acquiring N18.9 billion worth of the group’s shares on the Nigerian Exchange on June 20.
According to a corporate notice on Thursday, Otedola directly acquired 316,506,776 shares at a share price of N21.91 each, amounting to N6.935 billion.
He then acquired 546,674,034 shares at N21.97 each, amounting to N12.01 billion, through his holding company, Calvados Global Services Limited.
Otedola previously held a 7.01 per cent stake in the bank, behind Oba Otudeko’s Barbican Capital Limited, which holds an 8.67% stake.
With his acquisition of 863,180,810 shares, he increased his total stake in the group to 9.41 per cent.
Otedola’s acquisition accounted for 99 per cent of FBN Holdings’ turnover volume of 871.084 million shares on the NGX.
Femi Otedola, who rejoined the Forbes Billionaires List this year, is now the majority shareholder in two major Nigerian companies, FBN Holdings and Geregu Power Plc.
He also owns the second-largest single individual shareholding for any publicly listed bank, behind Jim Ovia’s 11.29 per cent shareholding of Zenith Bank.
The contest for the majority stake in FBN Holdings dates back to December 2021, when Femi Otedola increased his shareholding from 5.07 per cent to 7.57 per cent.
The contest for the majority stake in FBN Holdings dates back to December 2021, when Femi Otedola increased his shareholding from 5.07% to 7.57%.
Otedola in late 2021 acquired a 7.6 per cent interest in the financial services group. He displaced Tunde Hassan-Odukale to take the lead position but then held a 5.57 per cent stake according to the unaudited report of the lender for the first half of 2023.
Hassan-Odukale interests stood at 4.40 per cent at the end of the same period.
Again, in October 2023, Otedola was listed as the largest shareholder of First Bank of Nigeria Holdings Plc, despite the acquisition of 4.7 billion units of FBNH shares by the former chairman of the group, Oba Otudeko.
This was revealed in the unaudited consolidated financial statements for the period ended September 30, 2023, of the financial institution filed with the Nigerian Exchange Limited.
In February this year, the First Bank of Nigeria Holdings appointed Otedola the new chairman of its board of directors.
Sharing a picture of the announcement on his Instagram page, he wrote, “Interesting”, and added smiley and dollar emojis.”
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President Tinubu Speaks On Ajuri Ngelale’s Indefinite Leave Request
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By Kayode Sanni-Arewa
President Bola Ahmed Tinubu’s administration has endorsed Ajuri Ngelale, the President’s Special Adviser on Media and Publicity, indefinite leave request.
Recall Ngelale, in a statement on Saturday, announced an indefinite leave of absence.
He proceeded on the leave to attend to pressing medical matters affecting his immediate family.
In a statement he posted on his general communication WhatsApp platform on Saturday, Ngelale revealed that he submitted a memo to the Chief of Staff on Friday.
He noted that the memo was a means of notifying him of the decision to pause his functions, including his roles as Special Presidential Envoy on Climate Action and Chairman of the Presidential Steering Committee on Project Evergreen.
Ngelale explained that the decision was after consultations with his family due to a worsening medical situation at home.
He expressed hope to return to full-time national service when circumstances permit.
In a statement posted on X by Tinubu’s Special Assistant on New Media, Olusegun Dada and signed by the Presidency, Tinubu approved Ngelale’s request.
Tinubu stated that he fully understands his Chief spokesperson’s reason and sympathizes with the circumstances that have led to this seemingly difficult decision.
The statement read: “The President has received the memo from Chief Ajuri Ngelale, Special Adviser to the President on Media & Publicity and Official Spokesperson of the President as well as Special Presidential Envoy on Climate Action, informing of his decision to proceed on an indefinite leave of absence for personal and health reasons.
“The President accepts his reasons for the leave, fully understands them and sympathizes with the circumstances that have led to this seemingly difficult decision.
“While extending his heartfelt prayers and best wishes to Chief Ngelale and his family during this challenging moment, the President hopes for a speedy recovery and full restoration to health.
“The President notes his tireless efforts and dedication in serving the nation, and thanks him for the remarkable contributions he made in his various capacities, especially in advancing national discourse and leading efforts on climate action and other key initiatives.
“The President wishes him well in all his future endeavors.
“During this period, we kindly ask that the wish for privacy of Chief Ngelale and his family be respected.”
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Confusion As FG Denies Ownership Of Yacht Spotted In France With Nigerian Flag
![](https://naijablitznews.com/wp-content/uploads/2024/09/Screenshot_20240907-235621.png)
…says it belongs to an undisvcosed private individual
By Kayode Sanni-Arewa
The presidency, on Saturday, denied ownership of a yacht spotted hoisting Nigerian flag in St-Tropez, a coastal town in France.
There had been reports of a “presidential yacht belonging to the Nigerian government being used for vacation at St Tropez” on social media.
Senior Assistant to President Bola Tinubu on digital and new media, Otega Ogra, in a post on X, said the yacht belongs to a private individual.
The presidential aide said flags used by the president or armed forces do not contain the coat of arms like the one on the yacht.
Ogra said on Saturday, “There have been false claims circulating that a private individual’s yacht was spotted in St. Tropez is a Nigerian government yacht. Here are some points to consider in order to discern the truth.
“The 42m Bennetti yacht currently being shared online has been privately owned for around 5 years since it was constructed.
It is important to note that this specific yacht has no connection or ownership ties to the Nigerian government, president or armed forces. Any claims or assertions suggesting otherwise are simply not true and inaccurate.
“It is not uncommon for luxury yachts to fly the flag of the owner’s country as well as the flag of the country in which they are registered.
“The official Nigerian flag is Green-White-Green without a coat of arms in the middle. Flags representing the Nigerian President or the Armed Forces do not contain a coat of arms in the center. Placing anything in the center of the flag is a clear deviation
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Constituency Devt: Senator Manu fulfils promise, installs solar energy as alternative source of power for constituents(Photos)
![](https://naijablitznews.com/wp-content/uploads/2024/09/Screenshot_20240907-234433.png)
By Kayode Sanni-Arewa
In a bid to enhance better life for his constituents, Senator Manu Haruna has facilatated installation of solar energy in Takalafiya community in Bali Local Government Area of Taraba State.
Senator Manu who represents Taraba Central Senatorial District in the National Assembly fulfilled his promise of ensuring the energy needs of his constituents are adequately taken care of.
This initiative reflects his unwavering commitment to addressing the energy needs of his constituents by providing a reliable and sustainable power source.
The solar energy project is expected to improve the quality of life in the community, enabling access to electricity for homes, schools, and local businesses, while also promoting environmental sustainability.
This project is part of Senator Haruna’s broader efforts to enhance infrastructure and development in Taraba Central.
Manu is also working tirelessly to make sure areas not connected to the national grid are connected within the shortest period possible.
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