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Otedola Becomes First Bank Majority Shareholder

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Femi Otedola

Otedola Becomes First Bank Majority Shareholder

 

 

Nigerian Billionaire Businessman Femi Otedola Takes Over First Bank of Nigeria As the Majority Shareholder.

Nigerian billionaire businessman, Femi Otedola has today, Friday, October 22, 2021, taken over First Bank of Nigeria Plc.

 

An exclusive report monitored on The Street Journal by Infoexpert24, says Femi Otedola took over First Bank with his recent acquisition of about N30 billion worth of shares, making him the single largest shareholder of the bank.

 

 

According to the report, Otedola being the largest shareholder means he holds the highest voting shares and can dictate the direction of the bank through his voting power.

 

The report recalls that when Otedola divested his 75% direct and indirect shareholding in Forte Oil, via a merger of his company Zenon Oil and former African Petroleum in 2019, the decision raised questions as to why he made such a decision especially because of the lucrative nature of the oil and gas sector.

 

At the time, that Otedola had announced that he wanted to explore and maximize business opportunities in refining and petrochemicals.

 

Otedola singled out First Bank despite having investments in the real estate and financial sector, for the single reason that there wasn’t exactly one man calling the shots there, unlike in other new generation banks, the report added.

 

Meanwhile, Otedola wasted no time in taking advantage of the leadership crisis that rocked First Bank not too long ago that led to the Central Bank of Nigeria (CBN) sacking both the chairman of the bank, Ibukun Awosika, and Obafemi Otudeko, the chairman of FBN Holdings.

 

 

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The Purple Blossom Dental Studio Opens Its Doors with State-of-the-Art Facilities in Moreleta Park

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The Purple Blossom Dental Studio Opens Its Doors with State-of-the-Art Facilities in Moreleta Park

Excitedly, the Purple Blossom Dental Studio has officially reopened its doors in Moreleta Park, Pretoria, bringing advanced dental care and technology to the heart of the community. The studio, known for its dedication to providing top-tier service, has undergone a major upgrade, ensuring patients receive the highest standard of care in a serene and comfortable environment.

The studio caters to patients of all ages, offering a range of services from routine check-ups to specialized treatments. Whether you’re looking to maintain your oral health or seeking cosmetic dental work, the team at The Purple Blossom Dental Studio is committed to helping you smile with confidence.

“We are thrilled to be back and better than ever,” said the spokesperson for The Purple Blossom Dental Studio. “Our goal is to provide every patient with exceptional dental care using the latest technology and techniques, all while ensuring a relaxing and welcoming atmosphere.”

The Purple Blossom Dental Studio Opens Its Doors with State-of-the-Art Facilities in Moreleta Park

The studio invites new and returning patients to schedule their appointments and experience the difference that modern dental care can make. The clinic’s professional team is eager to meet the needs of the local community, and they emphasize that healthy, beautiful smiles are their top priority.

Location:
The Purple Blossom Dental Studio
1277 De Villebois Mareuil Drive
Moreleta Park, Pretoria

For Appointments:
Call 012 997 2040

This marks a significant milestone for The Purple Blossom Dental Studio, as it continues to expand its reach and elevate the dental care experience in Pretoria.
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Reliable Source Defends Okunfulure Olusola Steve, Denies Money Laundering Allegations

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Reliable Source Defends Okunfulure Olusola Steve, Denies Money Laundering Allegations

 

A trusted and close associate of Mr. Okunfulure Olusola Steve has come forward to refute the widespread reports alleging his involvement in money laundering.

According to the source, who is based in the United States and has longstanding ties with Mr. Olusola, the Nigerian-born businessman is a legitimate entrepreneur with a verifiable professional background in the U.S.

“I want to categorically state that Olusola is not involved in money laundering,” the associate stated. “He is a law-abiding citizen who has never engaged in any criminal activity.”

The source clarified that Mr. Olusola was in Nigeria to attend a private function and was apprehended at Murtala Muhammed International Airport while returning to the U.S., with $30,000 in his possession. The issue reportedly arose due to his failure to properly declare the amount to airport authorities, which led to allegations of money laundering.

“This situation has caused significant distress to his family, friends, and associates, as Olusola is widely regarded as a person of integrity and good character,” the associate added.

It will be recalled that Justice Deinde I. Dipeolu of the Federal High Court in Ikoyi, Lagos, on Wednesday, April 2, 2025, convicted and sentenced Mr. Okunfulure Olusola Steve to three months imprisonment for money laundering. He was arrested on March 28, 2025, by operatives of the Nigeria Customs Service at the airport for failing to declare the $30,000 in his possession, in violation of the law.

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AARE ADETOLA EMMANUELKING AT 50: REDAN PRESIDENT CELEBRATES HIS VISIONARY LEADERSHIP

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AARE ADETOLA EMMANUELKING AT 50: REDAN PRESIDENT CELEBRATES HIS VISIONARY LEADERSHIP

 

It is with great pleasure that I, Prince Akintoye Adeoye, President and Chairman of Council of the Real Estate Developers Association of Nigeria (REDAN), on behalf of the entire Association, extend my warmest birthday wishes to you.

As you celebrate your birthday today, we recognize your outstanding contributions to the real estate industry. Your visionary leadership in making homeownership accessible and building Adron Homes & Properties into a leading brand sets a high standard for excellence. Your passion and dedication continue to inspire many of us in the real estate sector.

Today is not just a birthday; it is a celebration of your remarkable achievements, wisdom, and the abundant grace of God. From a visionary start to shaping the future of affordable housing in Nigeria, your leadership in the real estate sector has been ground-breaking.

REDAN is proud to recognize your invaluable contributions to the real estate sector and our association. As you step into this new age, may you be blessed with continued success and even greater accomplishments in all your endeavors.

Turning 50 is a momentous occasion, offering a time for reflection on the many successes and cherished memories that have shaped your journey. At REDAN, we wish you continued good health, wisdom, and divine grace as you keep contributing to the advancement of the real estate sector and our beloved nation.

May this year and the ones ahead be filled with even greater achievements, joy, and fulfillment.

Once again, happy 50th birthday, Aare Adetola Emmanuel King.

Thank you.

Yours faithfully,

FOR: REAL ESTATE DEVELOPERS’ ASSOCIATION OF NIGERIA

Prince Akintoye Adeoye
President & Chairman of Council

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