JUST IN: Otedola Emerges FBN Holdings Chairman

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First Bank of Nigeria Holdings Plc has appointed the 20th richest man in Africa, Femi Otedola, as its new Chairman.

FBN Holdings, in a notice to the Nigerian Exchange Limited and the investing public, said the decision was made at the meeting of the Board of Directors odf the company held on Wednesday.

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Otedola, also the Chairman of Geregu Power, succeeds the outgoing Chairman of the FBN Board, Ahmad Abdullahi.

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Otedola was appointed to the Board of FBN Holdings Plc on August 15, 2023 as a Non-Executive Director.

Otedola was recently ranked by American business magazine, Forbes, as the 20th richest African with a fortune of $1.1bn.

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