Femi Otedola Assumes Role as Chairman of First Bank of Nigeria

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Nigerian tycoon and business magnate, Femi Otedola, has been officially appointed as the new Chairman of the Board of Directors for First Bank of Nigeria (FBN) Holdings. This strategic transition marks a significant shift in leadership for Nigeria’s oldest financial institution.

Otedola’s tenure as Chairman commenced on Wednesday, January 31, 2024, following the conclusion of Alhaji Ahmad Abdullahi’s term. This announcement was made via a corporate filing on the Nigerian Exchange Limited (NGX), providing timely notification to investors and stakeholders.

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Femi Otedola, a highly regarded entrepreneur, investor, and philanthropist, brings a wealth of experience to his new role. Currently serving as the Executive Chairman of Geregu Power PLC, Otedola has a proven track record in steering successful ventures across various industries.

The move reflects FBN Holdings’ commitment to leveraging the expertise of accomplished leaders to guide the institution through the dynamic landscape of the financial sector. Otedola’s extensive business acumen positions him well to contribute to the continued growth and stability of First Bank.

This development is anticipated to bring fresh perspectives and strategic insights to the boardroom, aligning with FBN Holdings’ ongoing efforts to adapt to market dynamics and maintain its position as a cornerstone in Nigeria’s banking sector.

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