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Tag: Femi Otedola

Ardova awards Otedola $19m in arbitration over Forte Oil sale
Business

Ardova awards Otedola $19m in arbitration over Forte Oil sale

Energy billionaire, Femi Otedola had won a $19 million arbitration award on the share purchase agreement surrounding the sale of Forte Oil, now Ardova Plc. According to Premium Times, the agreement was reached in response to a decision made by the London Court of International Arbitration in October. The agreement mandated that Ignite Investments and Commodities Limited’s Chairman, Abdulwasiu Sowami […]

Otedola asks top First Bank official to resign over 'wasteful party'
Business

How Tony Elumelu took my UBA, Transcorp shares – Otedola

Billionaire businessman, Femi Otedola, on Tuesday morning, went down memory lane on his relationship with Tony Elumelu and his plans for Transcorp before he opted out because his bid was rejected.   Otedola noted that he offered to acquire Transcorp Plc for N250 billion and take the company’s market capitalisation to N2 trillion but his […]

Otedola asks top First Bank official to resign over 'wasteful party'
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Otedola buys 5.52% of Transcorp

A 5.52 percent stake in the domestic conglomerate, Transcorp Corporation Plc, has been acquired by Femi Otedola, a millionaire businessman, according to the company’s disclosure. This information came in the wake of rumors that Otedola had purchased a sizeable position in the conglomerate, whose shares have seen intense trading on the Nigerian Exchange Limited since last week, […]

Banking

Afreximbank purchases 5% of Geregu Power shares

Afreximbank has completed the acquisition of five per cent of the shares of Geregu Power Plc. According to The BusinessDay, the purchase was made through its subsidiary – Fund for Export Development in Africa. FEDA is the impact development arm of the Africa Export and Import Bank. “Today, February 21, 2023, the company secretary for […]

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