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Tag: Femi Otedola

Business

Dangote didn’t borrow money from friends for refinery – Otedola

Billionaire businessman Femi Otedola has denied reports claiming he requested a special allocation from Aliko Dangote in the planned initial public offering of the Dangote Refinery. Otedola made the clarification in a post on his X account on May 4, 2026. His response follows the spread of misleading claims targeting leading Nigerian business figures, including […]

How banks sent 'charming' ladies to lure my interest — Otedola
Banking

Otedola justifies massive legacy loan charge despite profit hit

Group Chairman of First Bank Holdings, Femi Otedola, has justified the company’s one-off N748bn charge to write off legacy bad loans, calling it a strategic move to secure long-term financial stability despite the hit to profits. Otedola revealed on Saturday via his X account that the heavy provisioning led to a 92 per cent drop […]

featured Opinion

Cardoso is the best CBN gov ever — Otedola

Prominent investor with over three decades of experience across multiple economic cycles, Femi Otedola, has described Yemi Cardoso as the best Central Bank Governor Nigeria has produced, praising his leadership style and commitment to doing what is right for the economy. He said, “I say this without hesitation: Yemi Cardoso is the best Central Bank […]

Energy featured

Energy sector records $1.3bn surge amid Elumelu, Otedola deals

Nigeria’s energy sector recorded transactions valued at $1.3 billion within four days ending December 31, marking one of the most active deal-making periods the industry has witnessed in several years. The flurry of transactions, which took place between December 29 and December 31, featured billionaire investor Tony Elumelu’s Heirs Energies Limited acquiring a significant 20 […]

Business featured

Otedola sells 77% Geregu Power stake in $750m deal

Billionaire investor Femi Otedola has exited Geregu Power Plc in a landmark transaction valued at $750 million, divesting his 77 per cent controlling stake in the power generation company. The development was disclosed in a filing by Geregu Power Plc on the Nigerian Exchange website and confirmed by sources familiar with the transaction, according to […]

How banks sent 'charming' ladies to lure my interest — Otedola
Business

Otedola defends Dangote amid dispute with marketers

Nigeria’s billionaire businessman, Mr. Femi Otedola, has weighed in on the ongoing fuel supply disagreement between the Dangote Refinery and the Depot and Petroleum Products Marketers Association of Nigeria, urging the association to embrace innovation or risk obsolescence. In a statement addressing recent developments in the downstream oil and gas sector, Otedola said he had […]

Business

Zenon denies alleged seizure of Lagos HQ

Zenon Petroleum & Gas Limited has dismissed claims that its Victoria Island property was seized over a N7.2 billion judgment debt. In a statement signed by the company’s management through its lawyer, Paschal Chimezie, and titled “Re: Appeal Court Seizes Zenon Property over Unpaid Judgment Debt,” Zenon denied the reported seizure. It stated, “Zenon’s attention […]

How banks sent 'charming' ladies to lure my interest — Otedola
News

How banks sent ‘charming’ ladies to lure my interest — Otedola

Billionaire businessman Femi Otedola has revealed how, at the height of his financial success, Nigerian banks aggressively competed for his attention — even deploying attractive women as part of their tactics to win his deposits and loan requests. In excerpts from his forthcoming memoir, Making It Big: Lessons from a Life in Business (out August […]

Court Rules FirstBank-GHL dispute Is debt recovery, not maritime claim
Banking

FG, Otedola not involved in Otudeko ₦323bn deal – FistHoldCo

The Federal Government of Nigeria and billionaire businessman, Femi Otedola, the Chairman of FirstHoldCo Plc, have both denied any role in the recent acquisition of roughly 25% of the company’s shares—an investment worth over ₦323 billion. Their denials come in response to media reports claiming the transaction was executed through a government-backed Special Purpose Vehicle. […]

How banks sent 'charming' ladies to lure my interest — Otedola
Business

Otedola credits N320b First Bank investment to Tinubu reforms

The Chairman of First Holdco Plc, Femi Otedola, has attributed his N320 billion personal investment in First Bank to President Bola Tinubu’s economic reforms and the policy credibility of the Central Bank of Nigeria under Governor Yemi Cardoso. Speaking at the 13th Annual General Meeting of First Holdco Plc, Otedola reaffirmed his dedication to transforming […]

How banks sent 'charming' ladies to lure my interest — Otedola
Banking

Otedola raises stake in First Bank to 13.15%

The chairman and majority shareholder of First Bank of Nigeria Holdings, Femi Otedola has raised his stake in the company to 13.15 per cent. This strategic move underscores Otedola’s confidence in FBN Holdings’ potential for growth and development within the banking sector. This was disclosed in a statement signed by the Acting Secretary, FBNH, Adewale […]

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