FBN Holdings Name Femi Otedola Chairman, Appoints Five New Directors

Otedola has been appointed as the new chairman of FBN Holdings.

FBN Holdings, under the stewardship of billionaire Femi Otedola as its new Chairman, announced a significant restructuring initiative, appointing five new directors to key positions within the organization.

The appointments of the five new directors are subject to the approval of the Central Bank of Nigeria (CBN

First Bank of Nigeria Holdings Plc, on Wednesday appointed two new non-executive directors for the holding company, while three additional non-executive directors were named for First Bank.

Adewale Arogundade, the company’s Secretary, updated the Nigerian Exchange Group on recent developments within the bank, announcing the appointments of Olusola Adeeyo and Viswanathan Shankar as non-executive director and independent non-executive director respectively in FBN Holdings.

Additionally, Remilekan Odunlami was appointed as a non-executive director for First Bank, while Anil Dua and Fatima Ali were appointed as independent non-executive directors.

Olusola Adeeyo, a respected former banker and ex-Chairman of AXA Mansard Insurance Plc, assumes the role of non-executive director.

Similarly, Viswanathan Shankar, CEO of Gateway Partners, joins as an independent non-executive director.

Meanwhile,Odunlami brings valuable experience, having served as a Director at CitiBank Nigeria Limited and FirstBank. Presently, she holds positions on the Board of Access Pensions Limited as an Independent Non-Executive Director and on the Board of Rand Merchant Bank Limited as a Non-Executive Director.

Moreso,Dua’s extensive board experience includes roles at Dangote GSP Offshore FZE, Seychelles International Mercantile Banking Corporation, Heirs Holdings Oil and Gas Limited, Matador Investment Management Limited, and Africa Property Development Managers Limited.

Also,Ali, founder of Santi Food and Beverage Limited, currently sits on the Board of Reconnect Health Development Initiative International, a mental health charity organisation

However,In late January, First Bank of Nigeria Holdings Plc appointed Femi Otedola, ranked as the 20th richest man in Africa by Forbes, as its new Chairman, succeeding Ahmad Abdullahi.

Moreso,Otedola, also the Chairman of Geregu Power, brings his wealth of experience to the role, with a fortune of $1.1bn.

Notably,Otedola was the first appointed to the Board of FBN Holdings Plc on August 15, 2023, in the capacity of a Non-Executive Director.