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 after he acquired a substantial stake in First Bank.
