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.
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.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: How roadside foods endanger consumers’ life with trans fat in northern Nigeria
With an estimated 854,000 deaths in Nigeria, and 3,229 attributed to trans fatty acids (TFA) -related cardiovascular deaths, ADESOLA IKULAJOLU visited Nigeria’s...
INVESTIGATION: Untold story of Ondo oil producing communities battling poor health system
Access to quality healthcare is one of the nightmares of communities in Ilaje local government area of Ondo State. Despite...
FEATURE: Ogun residents, waste collectors trade blames, as refuse litter environment
TIJANI ABDULKABEER, a journalist from the University of Ibadan, during a recent trip to Sango Otta, Ogun State took a look...
INVESTIGATION: How online fraudsters siphon victims’ funds through ‘SportyBet’ platform
As Nigeria transits into a cashless society, the evolution also creates opportunities for internet scammers to take advantage of unsuspecting...
SPECIAL REPORT: Enugu govt watches as waste takes over state, threatens public health, environment
In this report, Arinze Chijioke looks at how delays in evacuation of waste in Enugu State encourages indiscriminate waste disposal, its health implications, and how...