Only on a very rare occasion does a businessman acquire leadership shares of a prosperous company and choose not to flex his muscle on its board.
But Femi Otedola is not your everyday businessman, as the Chairman of Geregu Energy Group ranks amongst some of the country’s most successful business moguls.
Having said to have become the single largest shareholder in First Bank with a total shareholding of 7.5 percent, many had expected Otedola to automatically become the chairman of the bank, but this is far from the desire of the former owner of Forte Oil.
Explaining why he invested in First Bank recently, the billionaire businessman, refuted speculations that he was eyeing a board position in FBN Holdings, First Bank, or any of their subsidiaries, adding that his interest in the financial institution simply came from seeing an opportunity to invest in the financial institution.
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