Shares of First Bank of Nigeria (FBN) Holdings crashed in the Nigerian capital market this week after reports emerged that billionaire businessman, Femi Otedola, was mopping up shares in another equity, Transnational Corporation (Transcorp).
The week before news filtered in that Otedola had bought shares in Transcorp, First Bank shares appreciated by 0.4 percent from N11.05 to N11.10 kobo.
The development pushed FBN to the top of the gainer’s list in the capital market.
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