FBN Holdings Plc, a prominent name in Nigeria’s financial sector, has officially announced the appointment of Mr. Olufemi Otedola, as its non-executive director.
The decision, slated to take effect from August 14, 2023, received the seal of approval from the Central Bank of Nigeria (CBN) and garnered the endorsement of shareholders during the recently held Annual General Meeting.
The official statement, issued by the bank and posted on the Nigerian Exchange Limited (NGX) website, underscores the regulatory and shareholder support for Otedola’s appointment. The appointment adheres to the regulations outlined in the NGX Rule Book and serves as a testament to FBN Holdings Plc’s commitment to enhancing its leadership and governance structure.
“We hereby notify the NGX and the investing public of the appointment of Mr. Olufemi Otedola, CON as a Non-Executive Director of FBN Holdings Plc,” the statement reads. It further elaborates, “The appointment by the Board of FBN Holdings Plc has been approved by the Central Bank of Nigeria (CBN) and endorsed by the shareholders at the Annual General Meeting held on August 15, 2023. The appointment is effective August 14, 2023.”
With this strategic appointment, FBN Holdings Plc aims to leverage Mr. Otedola’s expertise and experience to bolster its corporate governance and strategic direction. As a well-known figure in Nigeria’s business landscape, Mr. Otedola’s role as a Non-Executive Director is poised to contribute to the continued growth and stability of the financial institution.
The announcement underscores the importance of regulatory compliance, shareholder involvement, and capable leadership in the Nigerian financial sector. FBN Holdings Plc’s choice to appoint Mr. Otedola further demonstrates the organization’s commitment to maintaining high standards of governance and leadership in its operations.
