FBN Holdings appoints five directors as Otedola takes charge as chairman

First Bank of Nigeria (FBN) Holdings PLC has appointed three new directors for the HoldCo and two others for the bank, marking the beginning of billionaire investor, Femi Otedola’s tenure as the chairman of the company.

FBN Holdings appointed Olusola Adeeyo and Viswanathan Shankar as Non-Executive Directors of the company, respectively.

First Bank (a subsidiary of the HoldCo) also appointed Remilekun Adetola Odunlami as Non-Executive Director and Anil Dua and Fatima Ibrahim Ali as Independent Non-Executive Directors of the bank.

All the appointments are subject to the approval of the Central Bank of Nigeria (CBN) and the shareholders at the next Annual General Meeting of the company.

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The Board of Directors of FBN Holdings PLC announced the appointment of billionaire businessman Otedola as the new chairman of the board on January 31, 2024.

Otedola is the largest shareholder of the oldest bank in Nigeria.

He succeeded Ahmad Abdullahi as the chairman of the board.

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

He was also a member of the National Economic Management Team chaired by former President Goodluck Jonathan from September 2011 to May 2015 and the Honorary International Investors Council. He is a member of the National Peace Committee.

Otedola has received several awards and recognitions for his immense contributions to the growth of the Nigerian economy, including the conferment of the prestigious National Honour – Commander of the Order of the Niger (CON) by Jonathan in May 2010.

He is the Chancellor of Augustine University in Ilara, Epe, Lagos State.