First HoldCo Plc Chairman and billionaire investor Femi Otedola revealed that he held discussions with Ogun State Governor Dapo Abiodun regarding new areas of partnership between First Bank and the state government.
Otedola disclosed this in a post on his X handle on Monday, November 2, following a meeting with the governor.
Describing Abiodun as his “dearest brother of over 3 decades,” the businessman commended the governor for what he described as exemplary and focused leadership in the state.
“Yesterday I received my dearest brother of over 3 decades and the performing Governor of Ogun State @DapoAbiodunCON,” Otedola wrote.
He added that their discussions centred on strengthening the relationship between the financial institution and the state government.
“We shared discussions on areas of further collaboration between First Bank and Ogun State,” he stated.
Otedola also praised Abiodun for his leadership over the past seven years and six months, saying it had been for the benefit of the people of Ogun State.
“I appreciate him for the examplary and focused leadership he has provided for the past 7 years and 6 months for the good people of Ogun State,” he added.
Earlier this year, Otedola was reported to have acquired 95.7 million new shares in the banking group, taking his stake in the company to 27.70 per cent.
In a regulatory filing signed by the group’s Company Secretary, Abiola Baruwa, on Monday, Mr Otedola purchased 95,699,240 additional shares at N131.48 per share, valued at N12.58 billion.
What You Should Know
Billionaire entrepreneur Femi Otedola recently met with Ogun State Governor Dapo Abiodun to discuss strengthening economic ties between First Bank and the state government. The meeting highlights growing cooperation between top financial institutions and state administrations in driving regional development.
- Positive Impact: Potential partnerships could lead to better financial services, infrastructure funding, and economic development programs for residents and businesses in Ogun State.
- Potential Concerns: While the meeting signals strong ties, details on specific financial commitments or public-private projects have not yet been fully disclosed to the public.
