Ecobank has urged FBNHoldings to reject the acquisition of 4.7 billion shares by a former Chairman of the FBNHoldings, Dr. Oba Otudeko. The bank raised the alarm in a letter by its Legal Counsel, Kunle Ogunba & Associates, in which it stated that the business magnate, through his affiliated entities, owed the bank N13.5 billion. The letter, dated 7th July …

Honeywell Group, led by Dr. Oba Otudeko, has reportedly bought the largest shares of FBNHoldings Plc in a cross deal worth N87.8 billion. The shares which Otudeko bought at N19 per unit are the largest volume of FBNHoldings’ shares traded in a single day since 2012 when the stock exchange started publishing data. The trade has ratcheted up allegations over …