SHAREHOLDING controversy that emerged, over who holds the single-largest share, in FBN holdings Plc, has finally been clarified. Tunde Hassan-Odukale, has been confirmed by the Bank as the single-shareholder. He owns 5.36 per cent; while Femi Otedola, second, owns 5.07 per cent, according to statement by the bank’s secretary, Seye Kosoko, on Wednesday.
Nigerian Exchange Limited, was informed on Tuesday, that Tunde Hassan-Odukale has the largest shareholding in the company. Hassan-Odukale and Otedola are the only two substantial shareholders, with over five per cent equity interest in the bank. Hassan-Odukale acquired bulk of his shareholding in FBNH in 2021, according the breakdown by the bank.
His direct interest in the bank is 26,231,887 units. He indirectly owns 1,897,280,212 units in the financial Holding company. As at 2020, Hassan-Odukale’s direct stake in FBN Holdings was only 8,854,003 units; indirect stake was 360,961,091 units. FBNH has outstanding shares of 35,895,292,792 units valued at N418.18 billion as at October 27.
Hassan-Odukale’s present records, show that he has been buying direct and indirect shares in FBN Holdings Plc, in 2021. He indirectly holds 755,959,459 units or [2.11] per cent, through Leadway Assurance Company Limited. And through, ZPC/Leadway Assurance Prem & Invent Coll Account, he owns 486,605,478 shares of FBN Holding or [1.36] per cent.