Otedola’s partner, Omodayo-Owotuga joins FBN Holdings amid takeover

Julius Omodayo-Owotuga, the long-time partner of businessman Femi Otedola, has joined the board of First Bank of Nigeria (FBN) Holdings as the billionaire’s controlling stake in the lender begins to take root.

Owotuga was appointed the Non-Executive Director for FBN Holdings where he will coordinate the implementation of the company’s strategies.

First Bank appointed three executive directors within the establishment into the board about four weeks ago.

But Omodayo-Owotuga is the first outsider to be appointed to the board since Otedola completed the takeover of FBN Holdings in 2021.

He was brought into Forte Oil by the businessman before the company was sold to Prudent Energy Services Limited three years ago.

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He also served as the Deputy Chief Executive of Geregu Power Plc, a company owned by Otedola.

The chartered accountant also worked at the Foreign Operations Group of MBC International Bank.

More changes are expected in FBN Holdings board in the coming days as Otedola moves to overshadow Leadway Assurance’s Tunde Hassan-Odukale, the lender’s former majority shareholder.

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