FBN Holdings, a big company in Nigeria, has picked Femi Otedola, a very rich businessperson, to be a director. This news came out on August 17, 2023. On Wednesday, the company told everyone about this through an official paper signed by Adewale Arogundade, who is taking care of things for the company.
Femi Otedola’s new job started on August 14, 2023, but it still needs the approval of the people who own shares in the company. The company thinks Otedola is a special person who can help the company grow. They say he’s good at improving businesses and has a history of doing great things.
He became famous for starting a company called Zenon Petroleum and Gas Limited. He changed the way things were done in the oil business. He also did other things, like investing in storage and shipping and ensuring that oil was safe. This made his company very strong and successful.
He also became a big part of African Petroleum Plc in May 2007. He helped lead the company and make important decisions. But there’s some trouble because of a court decision. The 11th big meeting of the company was stopped because of this. People talk about this a lot, mostly because there’s a fight over who owns the company. This fight is happening behind the scenes, where only some can see it.
The company says they have not received any official papers from the court stopping the big meeting. Arogundade said this in a report the company shared on Wednesday.
In 2021, Otedola became the biggest person to own part of the company, getting 7.57 per cent of the shares. But last month, another rich person named Oba Otudeko got even more shares, taking some of Otedola’s ownership away.
