First Bank Remain Silent On Leadership Chaos

It’s been over 48 hours since it was disclosed by RIPPLES NIGERIA that Tunde Hassan-Odukale is not the majority shareholder contrary to what First Bank Nigeria (FBN) Holdings made their investors to believe.

RIPPLES NIGERIA reports that there had been confusion on which investor, Femi Otedola or Hassan-Odukale had the largest control over FBN Holdings since the former acquired 5.07 percent stake in H2 2021. Jamb Result

Reports reveal that the statement made by First Bank that of at the time of Otedola share acquisition, it doesn’t have a shareholder with 5 percent and above was later discovered to be untrue.

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However, following Otedola’s announcement as the majority stakeholder, RIPPLES NIGERIA reports that First Bank backtracked and announced that Hassan-Odukale had more shares of 5.36 percent than Otedola.

RIPPLES NIGERIA reports that in a recent reaction to its report, the National Pension Commission (PENCOM) has said that the stake of Leadway Pensure, ascribed to Hassan-Odukale, doesn’t belong to him, but belongs to the pensioners of the PFA.

Reacting to PENCOM’s revelation, RIPPLES NIGERIA reports that it has reached out to FBN Holdings, however, FBN Holdings have remained silent to the enquiry. Information Guide Nigeria

RIPPLES NIGERIA reports that the registrar of FBN, Meritem said, “we will revert with feedback accordingly,” as written to them by Mojisola Onifade, the Customer Service Representative.

On Monday, Onifade reacted to a reminder, stating, “Please be informed that you will be required to approach First bank or PENCOM for further information on your request.”

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