Outraged First Bank Shareholders Seek to Stop ‘Strange’ N350bn Private Placement
Shareholders of First Bank, Nigeria’s oldest financial institution, are raising alarms over plans to execute a private placement valued at ₦350 billion. Many believe the move, spearheaded by Femi Otedola, Chairman of FBN Holdings, is an attempt to consolidate control over the bank without adequate transparency or fairness. The controversy arises amid an ongoing rights…