The Chairman of First Bank Nigeria Holdings (FBNH), Mr Tunde Hassan-Odukale has been confirmed as the largest single shareholder of the company. Information Guide Nigeria

According to the News Agency of Nigeria (NAN), this was disclosed in a letter signed by the company’s secretary and published on the website of the Nigerian Exchange Ltd (NGX) on Wednesday.

The secretary of First Bank of Nigeria Holdings, Mr Seye Kosoko declared Hassan-Odukale as the single-largest shareholder and not Mr Femi Otedola.

PULSE NIGERIA reports that this is contrary to the rumour that was circulating recently that Femi Otedola, the father to the Nigerian artiste, DJ CUPPY, and his nominee, Calvados Global Services Ltd. were the largest single stakeholders in the bank.

According to PULSE NIGERIA, the letter addressed to the Director-General of NGX reveals that currently, Hassan-Odukale’s shareholding stands at 5.36 per cent ahead of Otedola who owns 5.07 per cent.

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An analysis of the letter showed that Hassan-Odukale acquired the bulk of his shareholding in FBNH this year.

PULSE  NIGERIA reveals that the filing to the NGX showed that Hassan-Odukale and Otedola are the only shareholders with over five per cent equity interest in the company. Jamb Result

A breakdown shows that Hassan-Odukale’s direct interest in the bank is 26,231,887 units while he indirectly owns 1,897,280,212 units in the financial Holding Company.

First Bank’s annual report shows that Hassan-Odukale’s direct stake in FBN Holdings was only 8,854,003 units while his indirect stake was 360,961,091 units as of the end of 2020.

According to the NEWS AGENCY  OF NIGERIA, FBNH has outstanding shares of 35,895,292,792 units valued at N418.18 billion as at Oct. 27, 2021.

NEWS AGENCY  OF NIGERIA reports that through Leadway Assurance Company Ltd., Hassan-Odukale indirectly holds 755,959,459 units or 2.11 per cent and through ZPC/Leadway Assurance Prem & Invent Coll Account, he owns 486,605,478 shares of FBN Holding or 1.36 per cent.

(NAN)

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