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Tag: Femi Otedola

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 […]

Femi Otedola named 2024 'Investor of the Year'
News

Otedola backs FG’s 70% windfall tax on banks’ FX earnings

Billionaire businessman, Femi Otedola, is in favour of the federal government’s 70% windfall tax on banks’ foreign exchange earnings. The business mogul disclosed this in a statement on Wednesday admonishing the banking sector for its $50m projected bill on private jets maintenance and an even higher bill on the acquisition of private jets. A 70% […]

Femi Otedola named 2024 'Investor of the Year'
News

Billionaire Otedola rallies behind Dangote amid refinery controversy

Nigerian billionaire Femi Otedola has rallied behind Aliko Dangote, CEO of Dangote Refinery, amidst ongoing disputes with national oil regulators. In a series of posts on X on Tuesday, Otedola echoed calls from various stakeholders urging the federal government to support industrialists like Dangote, akin to how other nations back their “local champions.” Describing Dangote […]

Femi Otedola named 2024 'Investor of the Year'
News

Billionaire Otedola backs Dangote amid clash with NMDPR

Nigerian billionaire Femi Otedola has taken to social media to support Aliko Dangote and his ambitious Dangote Refinery project. Otedola’s endorsement echoed recent sentiments expressed by Akinwunmi Adesina, President of the African Development Bank, who defended Dangote against criticisms of his business practices, asserting that such critiques are misguided and detrimental to Nigeria’s economic progress. […]

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

Otedola raises stakes to 11.64% in FBN holdings

The Chairman of FBN Holdings, Femi Tedola has raised his ownership stake in the business once more, solidifying his status as the company’s single largest stakeholder. This was disclosed in a notice to NGX on Monday. In the notice, the billionaire acknowledged that, at an average price of N21.58, he had purchased an extra 797,946,415 […]

News

Zenith Bank, Femi Otedola reach out-of-court settlement

The owner of Geregu Power and chairman of FBN Holdings, Femi Otedola, has resolved his legal battle with Zenith Bank, which was earlier brought before a Federal High Court. Sources claim that Otedola’s decision to withdraw from the legal proceeding is the result of a recent agreement reached between the billionaire and Jim Ovia, the […]

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