Mr. Femi Otedola has increased his investment in FBN Holdings by acquiring an additional 546,674,034 shares, valued at N12.01 billion. According to the Nigerian Exchange Limited (NGX) on Thursday, Otedola made the purchase through Calvados Global Services Limited at a price of N21.97 per share. Prior to this acquisition, Otedola held a 7.01% stake in FBN Holdings, trailing Oba Otudeko’s Barbican Capital Limited, which holds an 8.67% stake.
Otedola’s investment portfolio includes ventures in port agency, shipping, storage, and insurance brokerage. In 2007, he acquired a controlling interest in African Petroleum, which was later rebranded as Forte Oil before being sold and renamed Ardova.
In October 2022, Otedola took Geregu Power public, a company that contributes approximately nine percent of Nigeria’s grid electricity. He has also served on several boards, including as President of the Nigerian Chamber of Shipping and as a former Chairman of Transcorp Hilton Hotel in Abuja.
