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FBN Holdings’ Nnamdi Okonkwo increases stake with N83.69m



EFCC reportedly grills First Bank new MD, Okonkwo, over Diezani’s $153m

First Bank of Nigeria (FBN) Holdings Group Managing Director, Nnamdi Okonkwo, has bought more shares in the financial institution, barely one month after he made his first purchase.

Okonkwo paid N83.69 million to acquire 8.16 million shares in FBN Holdings, the firm he began to lead on January 1, 2022, three months after his appointment was announced in October 2021.

In a stock market document dated September 23, 2022, FBN Holdings disclosed that Okonkwo parted with the cash to acquire the assets on September 22, 2022.

Read also: CBN issues “no objection” to FBN Holdings’ acquisition of Access Pension

The share acquisition followed the 854,281 shares he acquired on August 19, 2022, which cost Okonkwo N9.18 million. His recent stock market activity increased his stake in FBN Holdings to 0.02%, from 0.002%.

Aside from Okonkwo, another executive director at the company, Samson Oyewale Ariyibi, ED, Investment Management and Oversight, bought 1.16 million units worth N12.2 million.

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