Otedola becomes the new board chairman of FBN Holdings on January 31.
The struggle to control the assets of Nigeria’s oldest bank, FBN Holdings Plc, seems to be over as the bank yesterday named billionaire businessman and chairman of Geregu Power Plant, Femi Otedola, new Chairman of the Board of Directors.
The appointment, effective January 31, 2024, followed a recent meeting of the board where Otedola succeeded Alhaji Ahmad Abdullahi. Otedola is expected to bring his extensive experience and strategic insight to FBN Holdings. His leadership is anticipated to drive growth, innovation, and enhanced performance within the company.
In a corporate filing to the Nigerian Exchange Limited, the bank commended the outgoing Chairman, Alhaji Ahmad Abdullahi, for his achievements during his tenure, during which he guided FBN Holdings through numerous challenges, maintaining its stature in the Nigerian financial landscape.
“FBN Holdings Plc hereby notifies the Nigerian Exchange Limited (NGX) and the investing public that at the meeting of the board of directors of the company held today (yesterday), January 31, 2024, the board appointed Mr. Olufemi Otedola as the new chairman of the board of directors. Mr. Olufemi Peter Otedola succeeds the outgoing chairman of the board, Alhaji Ahmad Abdullahi.
“Femi was appointed to the board of FBN Holdings Plc on August 15, 2023, as a non-executive director. He is a visionary entrepreneur with a track record of pioneering businesses and growing and transforming corporations,” it stated.
