Otedola pushed to second place as Hassan-Odukale, Leadway Assurance boss becomes single-largest shareholder in FBN Holdings – The Street Journal

FBN Holdings Plc has confirmed that Leadway Assurance boss, Tunde Hassan-Odukale is the single-largest shareholder in the company.

A statement signed by the company secretary, Seye Kosoko, on Wednesday confirmed that Hassan-Odukale and Femi Otedola are the only shareholders with more than five per cent shareholding in the company.

While Hassan-Odukale owns 5.36 per cent Otedola owns 5.07 per cent. This is according to a filing made available to The Nigerian Exchange (NGX), NAN is reporting.

An analysis of the letter showed that Hassan-Odukale acquired the bulk of his shareholding in FBNH this year.

Further breakdown of the data shows that Hassan-Odukale’s direct interest in the bank is 26,231,887 units while he indirectly owns 1,897,280,212 units in the financial Holding Company.

First Bank’s annual report shows that Hassan-Odukale’s direct stake in FBN Holdings was only 8,854,003 units while his indirect stake was 360,961,091 units as at the end of 2020.

FBNH has outstanding shares of 35,895,292,792 units valued at N418.18 billion as at October 27.

Hassan-Odukale’s recent direct and indirect stake in FBN Holdings Plc shows he has been buying the shares of the holding company this year.

Through Leadway Assurance Company Ltd., Hassan-Odukale indirectly holds 755,959,459 units or 2.11 per cent.

Also, through ZPC/Leadway Assurance Prem & Invent Coll Account, he owns 486,605,478 shares of FBN Holding or 1.36 per cent.

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