Otedola praised the Nigerian government for reforms as an investment in the first bank hit ₦ 320 billion

Chairman of the First Holding Company PLC, Femi Otedola has praised the economic reform of the federal government as the main driver of the company’s growth.

He also revealed that his investment in First Bank had jumped to ₦ 320 billion.

Otedola made a revelation on Thursday, at the 113th Annual General Meeting (GMS) from the First Holding Company PLC.

“This journey is in line with the brave leadership and visionary of the President of Bola Ahmed Tinubu, who deserves praise for fighting for strong but necessary reforms in our economy,” said Oyedola.

He noted that the bank’s journey was in harmony with “brave and visionary leadership” “President of Bola Tinubu, who” deserves praise for fighting for strong reforms but needs to be in our economy. “

Also read: In the battle between Otudeko, Otedola, the other fees for the shareholders of the first bank N61BN

He also praised the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, for the reform of “brave and pragmatic” policy.

“I also praised the Governor of the Central Bank of Nigeria, Mr. Yemi Cardoso, for his bold and pragmatic policy reform.

His action restoring the credibility to the financial system and giving investors like me confidence to make long -term capital to this country, “added the businessman.

This development follows the conclusions from the first phase of capital increase training for ₦ 150 billion rights in March. The process of recording a total subscription of ₦ 187.6 billion, exceeding the initial target of more than 25 percent. Although no date was issued, First Holdco revealed a plan for the second phase of capital increase training, targeting around ₦ 350 billion through personal placement.

At the GMS, billionaire said the vision to re -position the company began by acquiring “significant” shares in 2021.

By: Babajide Okeowo

Join the conversation

Opinion

Supports Nigeria’s ripples, resistant Journalism Solutions

A balanced and fearful journalism that is driven by data comes with enormous financial costs.

As a media platform, we ask for leadership accountability and will not trade the right to suppress freedom and freedom of speech for a piece of cake.

If you like what we do, and ready to uphold journalism solutions, friendly Nigerian ripples cause.

Your support will help ensure that residents and institutions continue to have free access to credible and reliable information for community development.

Donation now