Prominent businessman, Femi Otedola, has rebuffed claims that he is interested in becoming the Chairman of First Bank of Nigeria Holdings, saying he is only investing in the company.
Otedola said this on Wednesday at the ExecuJet Private terminal in Lagos.
The billionaire acquired an additional 2.5 per cent in FBN Holdings Plc, thus, to become the single largest shareholder in the company with a total shareholding of 7.5 per cent.
According to him, his recent acquisition of shares in FBN Holdings is purely an investment decision.
He added that he is currently in semi-retirement and cannot, therefore, be contemplating holding a position on the board of the renowned financial institution.
He said: “Being the single largest shareholder doesn’t mean I must necessarily hold a position in the bank. I believe in allowing competent people to run institutions in a professional manner and to the benefit of all the stakeholders.
“That is an institution with a world-class corporate governance structure and a strong performing management that creates value and guarantees returns in form of dividends and capital appreciation.
“I am simply an investor who saw an opportunity in the financial institution and decided to take advantage of it through the investment I have made. My interest, contrary to speculation, is not to become chairman of the bank or its Holdco. Moreover, I am in semi-retirement.”