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FBN Holdings announces five new elite directors as Otedola era begins

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FBN Holdings Nigeria oldest bank has appointed three new directors for the HoldCo and two more for the Bank marking the beginning of billionaire investor, Femi Otedola’s, tenure as chairman of the holding company.

The directors appointed by the bank all have intimidating resume’s suggesting a new direction for one of Nigeria’a largest financial institution.

All the appointments are subject to the approval of Central Bank of Nigeria and the shareholders at the next Annual General Meeting of the Company.

Until February 2023, Mr. Adeeyo was the Chairman, AXA Mansard Insurance Plc and had previously served on the board of other reputable companies Including, Central Securities and Clearing Company Plc and Viathan Engineering Limited, among others.

Viswanathan Shankar, a vastly experienced personality is  Co-founder and Chief Executive Officer of Gateway Partners, a private equity and alternative investments manager focused on investing in the dynamic growth markets of Africa, Asia and the Middle East.

Remi Odunlami has served In various management and board leadership positions such as the Director/Country Risk Manager in CitiBank Nigeria Limited where she managed the credit portfolio and enterprise risk management processes within the bank, and she was the first female in Citibank across Africa to serve as an Independent Risk Senior Credit Officer.

Mr. Anil Dua has sat on the boards of Standard Chartered Bank Limited in Ghana, Nigeria, Cameroon, and Cote D’Ivoire.

Mrs Fatima Ibrahim All founded Santi Food and Beverage Limited In 2015, drove the company’s strategic direction and orchestrated business development efforts that yielded over 300% growth in consumer retail and supply channels within the first five years of establishment.

FBN Holdings Plc announced the appointment of Mr. Olufemi Otedola as its new Chairman of the Board of Directors in January succeeding Alhaji Ahmad Abudullahi.

His appointment as sets off a new chapter in the 130 year history of the bank.

FBN Holding Share Price closed at N39.6/share 10% shy of its year high of N43.95/share. The stock is up 68% YTD and one of the best performing banking stocks.

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