Femi Otedola, billionaire businessman, says he has no
interest in holding any position in FBN Holdings or any of its subsidiaries.
Otedola said this on Wednesday at the ExecuJet Private
terminal in Lagos.
He said the recent acquisition of shares in FBN Holdings is
purely an investment decision.
“Being the single largest shareholder doesn’t mean I must necessarily hold a position in the bank. I believe in allowing competent people to run institutions in a professional manner and to the benefit of all the stakeholders,” he said.
“That is an
institution with a world-class corporate governance structure and a strong
performing management that creates value and guarantees returns in form of
dividends and capital appreciation.”
According to him, the major focus of any good investor is to
see opportunities where others don’t, saying that he was convinced that FBN
Holdings has a bright future, is strong, solid, and would remain a dominant
player in the Nigerian financial services sector.
“I am simply an investor who saw an opportunity in the
financial institution and decided to take advantage of it through the
investment I have made. My interest, contrary to speculation, is not to become
chairman of the bank or its Holdco. Moreover, I am in semi-retirement,” he
added.
The billionaire acquired an additional 2.5 percent in FBN
Holdings Plc, thus, to become the single largest shareholder in the company
with a total shareholding of 7.5 percent.
Market analysts speculate that Otedola must have pumped a
whopping N45 billion to attain this dominant position.
The billionaire was recently invited by Save the Children, a
UK-based charity organisation, where he was named one of the vice-presidents,
in recognition of his philanthropic efforts to better the lives of children in
Nigeria.
Save the Children is the second largest charity in the world
after UNICEF with Princess Anne as a patron since 2017 after serving as
president since 1970.
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