The First Bank of Nigeria Holdings has named Femi Otedola, a Nigerian billionaire and businessman, as the next chairman of its board of directors.
Otedola, who recently returned to the Forbes African Billionaires list after a seven-year absence, expressed his excitement about succeeding the departing Chairman of the Board, Alhaji Ahmad Abdullahi.
On his Instagram feed, he posted a photo of the news with the caption “Interesting” and cheerful with dollar emojis.
The 61-year-old entrepreneur is presently ranked 20 on the list, with a net worth of $1.1 billion.
The financial institution’s decision came after a recent board meeting held today.
The bank announced this in a corporate filing on the Nigerian Exchange Limited (NGX), informing investors of the latest developments.
This appointment, according to the bank, is effective today, January 31, 2024.
cc: Punch Ng
