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Tag: Femi Otedola

Business

Otedola’s stake in First HoldCo rises to 20.40%

Billionaire investor Femi Otedola’s combined interest in First HoldCo Plc increased to 20.40 per cent as of June 30, 2026, up from 18.12 per cent at the end of March 2026 and 15.95 per cent as of June 30, 2025. This is according to the company’s latest shareholding disclosure as contained in its recently released […]

featured Life Style

Nigerian billionaire Femi Otedola returns to school

Billionaire businessman Femi Otedola has completed an executive leadership programme, Leading Businesses for the Future, at London Business School. Otedola announced the milestone via his official social media platforms, describing the experience as a powerful reminder that humility remains central to lifelong learning. According to him, “no knowledge is wasted,” adding that he remains committed […]

featured

I sold Geregu stake to invest in Dangote IPO – Otedola

Billionaire businessman and philanthropist Femi Otedola has indicated plans to invest $100 million in the forthcoming Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals. He disclosed this during a visit on Wednesday, when he led the board and senior executives of First Holdco Plc and its subsidiaries to inspect the refinery complex in Ibeju-Lekki, […]

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 […]

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