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FEMI Otedola has further increased his ownership of First HoldCo Plc after acquiring an additional 138.04 million ordinary shares valued at approximately N18.11 billion. The latest transaction reinforces the billionaire businessman’s growing influence in the financial services group and comes only days after he indicated that he could increase his stake beyond the roughly 26 […]
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THE Economic and Financial Crimes Commission (EFCC) has returned a total of N802.42 million to First Bank of Nigeria Plc after recovering the funds from a fraud suspect linked to the illegal diversion of more than N1.3 billion from the bank. The recovery was formally handed over on Monday by the EFCC’s Benin Zonal Directorate […]
THE operating expenses of FirstHoldco Plc, First Bank’s parent company, increased by 42 percent year-to-date to September (January to September) 2025, with line items such as advert and corporate promotions, travels, directors’ emoluments and donations/subscriptions surging. The company spent a total of N597.768 billion on operating expenses from January to September 2025 as against N421.321 […]
FIRST Bank Limited, or First Holdco, has confirmed RC Investment Management Limited as its biggest shareholder after earlier acquiring 10.433 billion units of shares in July. The RC Investment’s share transaction was earlier linked to Chairman of First Bank or First Holdco, Mr Femi Otedola, who later denied involvement. The deal was expected to raise […]
REGULATORS have come under heavy criticisms for failing to fully disclose the buyer of 10.43 billion shares of FirstHoldco in a transaction valued at at N323.4 billion. A so-called mystery buyer, which was reported earlier as Mr Femi Otedola, had purchased the shares of Mr Oba Otudeko and Mr Tunde Hassan-Odukale, two former majority shareholders […]
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 […]
Former First Bank Chairmen, Mr Oba Otudeko and Mr Tunde Hassan- Odukale, sold 10.433 billion shares of First Holdco to RC Investments Management Limited. In other words, RC Investments bought the shares of the entity as earlier reported by Economy Post. First Bank is a subsidiary of First Holdco. Mr Otedola had, on Wednesday, secured […]
Chairman of First Holdco, Mr Femi Otedola, shook the market on Wednesday, securing a humongous off-market transaction of 10.43 billion units of the financial institution’s shares estimated at N323.4 billion. The transaction raised his stake in First Bank or First Holdco to 36.7 percent, having acquired the shares of his major competitors and long-time shareholders, […]
IF you are a shareholder of Zenith Bank, Access Bank or Access Bank, your dividends may not get to you for 3 years, according to a new report released by Rennaisance Capital. This is because these tier-1 banks are facing pressure from the Central Bank of Nigeria (CBN) to rebuild capital buffers to make provisions […]
First City Monument Bank, Rand Merchant Bank, Zenith Bank, Fidelity Bank, Eco Bank, and First Bank of Nigeria are charging manufacturers an arm and a leg for loans, precluding them from accessing capital needed for expansion. According to data obtained from the Central Bank of Nigeria (CBN), First City Monument Bank (FCMB) had the highest […]