FBN Holdings Appoints Otedola As Chairman

First Bank of Nigeria Holdings Plc has appointed the 20th richest man in Africa, Femi Otedola, as its new Chairman.

FBN Holdings, in a notice to the Nigerian Exchange Limited and the investing public, said the decision was made at the meeting of the Board of Directors of the company held on Wednesday.

Otedola, also the Chairman of Geregu Power, succeeds the outgoing Chairman of the FBN Board, Ahmad Abdullahi.

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

Otedola was recently ranked by American business magazine, Forbes, as the 20th richest African with a fortune of $1.1bn.