Femi Otedola

Femi Otedola, billionaire businessman and chairman of Geregu Power Plc, today emerged as the chairperson of the board of FBN Holdings Plc, whose flagship arm is First Bank.The change of guard happened at a meeting of the Board of Directors of the Group in Lagos on Wednesday, company insiders told PREMIUM TIMES. Mr Otedola succeeds Ahmad Abdullahi, a seasoned economist who was appointed chair of the Holdco on 17 December 2021. Mr Otedola became a non-executive director of FBN Holdings on 14 August 2023, months…

Femi Otedola’s Geregu Power recorded roughly a three-fifth jump in bottom-line to N16.1 billion for last year after notable improvement in key revenue sources, the power generating company said Tuesday in its audited earnings report. Shares in the company appreciated 4.6 per cent in Lagos after the news hit the market, making it the second-best-performing stock of the day. The second publicly issued audited account of the company, which was listed on the Nigerian Exchange in October 2022, showed revenue at N82.9…

Femi Otedola, a distinguished Nigerian entrepreneur and investor, has announced a significant acquisition of shares in Dangote Cement, the only cement company in Nigeria with two export terminals, with a combined export capacity of eight million tons per annum. This strategic investment underscores Mr Otedola’s confidence in Dangote Cement’s potential to generate foreign exchange for the country and his dedication to supporting businesses that contribute to Nigeria’s economic resilience. The businessman did not…

Billionaire tycoon Femi Otedola has racked up shares worth N6 billion of Dangote Cement Plc, a source with knowledge of the transactions told PREMIUM TIMES on Thursday. Mr Otedola, the source said, acquired the shares in his name. Sub-Saharan Africa’s largest cement maker Dangote Cement recently leapfrogged telecommunications powerhouse Airtel Africa to become Nigeria’s biggest company by market capitalisation, currently valued at N8.35 trillion. Dangote Cement has returned 81.4 per cent in the last 52 weeks and…