First Bank appoints Otedola chairman of First Bank

The First Bank of Nigeria (FBN) Holdings has appointed Femi Otedola, the businessman and investor, as the new chairman of its board of directors.

 

The financial institution disclosed this in a corporate filing on the Nigerian Exchange Limited (NGX), notifying investors of the new development.

 

Otedola, born on November 4 1962 is a Nigerian businessman and philanthropist. He is the former chairman of Forte Oil PLC, and is the current executive chairman of Geregu Power PLC.

 

Otedola is also the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate and finance.

 

He has recently invested in power generation as part of the liberalization of the sector in Nigeria.