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In billion-naira puzzle, Nigerian govt, Otedola say not buyers of 10.43bn First Bank stocks

IN a web of confusion, the Nigerian government and First Holdco have denied involvement in the purchase of 10.43 billion units of the financial institution’s shares on Wednesday estimated at N323.4 billion. The transaction was earlier linked to Chairman of First Bank or First Holdco, Mr Femi Otedola. The deal was expected to raise Mr […]

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Apr 23, 2024 post

First Bank cancels N300bn capital raise meeting, fails to release financial statement amid controversial leadership change

THINGS appear not be going so well for First Bank of Nigeria (FBN) as the financial institution has cancelled an extraordinary general meeting (EGM) earlier scheduled for the consideration of a N300 billion capital raise. This is as the bank’s Managing Director, Dr Adesola Adeduntan, steps down amid speculations that he was forced to leave […]