Femi Otedola Emerges Chairman of FBN Holdings

FBN Holdings Plc announced Mr. Femi Otedola as the new Chairman, succeeding Alhaji Ahmad Abdullahi. The board appointed Otedola on January 31, 2024. He joined the board as a non-executive Director on August 15, 2023.

The statement described Otedola as a visionary entrepreneur known for transforming businesses. His notable achievements include leading the transformation of African Petroleum Plc into Forte Oil Plc.

Otedola, recognized for his contributions to the Nigerian economy, divested from Forte Oil Plc in 2018 and later became the Executive Chairman of Amperion Power Distribution Company Limited.

His involvement in various board memberships, including the Nigerian Chamber of Shipping and Transcorp Hilton Hotel, showcases his leadership. Otedola has been recognized with the National Honour of 'Commander of the Order of the Niger-CON' for his contributions to the Nigerian economy.

As a philanthropist, he actively supports educational causes through the Sir Michael Otedola Scholarship Awards Foundation. The stock price of FBN Holdings closed at N21.7 per share on January 31, 2024, on the NGX.