Why I'm buying more shares with FBN - Femi Otedola

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Femi Otedola, a millionaire businessman, has stated that he has no intention of investing in FBN Holdings or any of its companies.

This was stated by Otedola on Wednesday at the Lagos ExecuJet Private terminal.

Femi Otedola
Femi Otedola

He said that his recent purchase of FBN Holdings stock was solely for investment purposes.

"Just because I'm the single largest shareholder doesn't mean I have to work for the bank." "I believe that capable people should be allowed to administer institutions in a professional manner that benefits all stakeholders," he stated.

The billionaire increased his stake in FBN Holdings Plc by 2.5 percent, making him the company's single largest shareholder with a 7.5 percent stake.

According to him, a successful investor's main goal is to spot possibilities where others don't, and he believes FBN Holdings has a bright future, is strong and stable, and will continue to be a dominating player in the Nigerian financial services market.

“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.

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