Otedola Amasses N320 Billion in First Bank, Credits Tinubu’s Reforms
Billionaire businessman and Chairman of First Holdco Plc, Femi Otedola, has announced a massive personal investment of ₦320 billion in First Bank, citing the Federal Government’s economic reforms and the Central Bank’s policies as key drivers behind his decision.
Speaking at the 13th Annual General Meeting (AGM) of First Holdco Plc on Thursday, Otedola praised the bold and visionary leadership of President Bola Ahmed Tinubu, who he said deserves credit for championing the tough but necessary reforms in the economy.
Otedola also lauded the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, for his courageous and pragmatic policy reforms, which he said have created a favorable business environment for investments like his to thrive.
“This journey aligns closely with the bold and visionary leadership of President Bola Ahmed Tinubu, who deserves credit for championing the tough but necessary reforms in our economy.
“I am also impressed by the courageous and pragmatic policy reforms of the CBN Governor, Olayemi Cardoso, which have helped to create a stable and attractive business environment,” Otedola said.
The investment of ₦320 billion is one of the largest personal investments in the Nigerian banking sector and is seen as a vote of confidence in the country’s economy and the banking industry.
Otedola’s investment is expected to have a significant impact on the growth and development of First Bank, which is one of the oldest and most reputable banks in Nigeria.
The news has been welcomed by stakeholders, who see it as a positive development for the Nigerian economy and the banking sector.
The investment is also expected to create new opportunities for job creation, economic growth, and development.
The news has been welcomed by stakeholders, who see it as a positive development for the Nigerian economy and the banking sector.
“This is a significant investment that demonstrates the confidence of Nigerian businessmen in the economy and the banking sector.
“It is a vote of confidence in the policies of the Federal Government and the Central Bank of Nigeria, and it is expected to have a positive impact on the growth and development of First Bank and the Nigerian economy as a whole,” said a financial analyst.
The investment is expected to have a significant impact on the Nigerian economy and the banking sector, and stakeholders will be watching with keen interest as the investment is implemented and its effects are felt.
