Billionaire Businessman, Femi Otedola Sells Shares In Geregu Power For ₦1 Trillion

-


Femi Otedola

Billionaire businessman, Femi Otedola has sold his majority stake in Geregu Power Plc for ₦1.088 trillion, in a transaction funded by a consortium of banks led by Zenith Bank Plc.

The Nigerian Exchange (NGX) made this announcement on Monday.

Otedola’s Amperion Power Distribution Company Ltd reportedly held nearly 80 percent of the power generating company.

With this new development, Otedola, Chairman of First Holdco Ltd, parent company of First Bank of Nigeria Plc, will reportedly now concentrate on expanding his interest in the Nigerian banking sector, although he still retains some shares in Geregu.

Otedola is said to currently own 17.01 percent of First Bank — its single largest shareholder since the bank was established in 1894.

Comments

Post a Comment

Popular posts from this blog

Teenage Boy Shot By Landlord In Owerri While Attempting To Retrieve Football From His Compound Has Died

-
Image
The teenage boy who was shot by his landlord in Imo State for jumping into his house to retrieve a ball during a game of football on his school field has succumbed to his injuries. Paul died at the Specialist Hospital, Umuguma, Owerri barely 24 hours after undergoing surgery. Paul’s guardian, Mr Jonathan Odikanwa, a septuagenarian told the newsmen that his ward passed away on Thursday afternoon, March 20, 2025. The 16-year-old student of Urban Secondary School in the Area N, World Bank Housing area of Owerri had jumped over his school fence to retrieve a ball that entered the yet-to-be-identified landlord’s premises on Monday. However, the property owner got offended and shot Paul in the waist, leaving him to battle for his life at the hospital. Odikanwa had on Wednesday appealed to people to pray for the recovery of his ward as he was being wheeled into the theatre to find out where his bowel movements were impeded. “He has passed away. My son has passed away. The doctors just sai...
Read more

[VIDEO] “I Caught My Wife Taking Nude Photos Of Herself And Sending To Men” - Gospel Singer, Paul Nwokocha

-
Image
Popular Nigerian Gospel singer, Paul Nwokocha has stirred reactions on social media after he confirmed that his second marriage was over. He referred to his wife as a whore, while revealing that he caught her sending her unclad photos to other men. Paul Nwokocha married a woman named Goodness in September 2023 just one month after his marriage to his first wife, Alice, ended.  At the time he married Goodness, he extolled her virtues with songs on their wedding day and stated that she was from his hometown, so his fans concluded this meant he knew her well. He also explained at the time that he “decided to marry my new wife, Goodness, one month after my ex wife packed out of our matrimonial home because the Holy Bible said Paul Nwokocha should not be alone.” Sadly, the second marriage ended after just one year. Addressing his second failed marriage in a video, Paul Nwokocha claimed his wife Goodness was caught taking nude photos of herself and sending to men. “I married a wife ...
Read more

[VIDEO] “I Lost Everything, I Didn’t Know How To Manage The Money” – Viral Hawker, Dr H2O Begs For Second Chance

-
Image
  Viral ex-hawker, Wisdom Alfred aka Dr H20 has pleaded with Nigerians to give him a second chance.   He also revealed that he lost a N15 million investment by bottled water company, Aquafina.   Recall that Dr H2O had gone viral in 2023 after a video of him hawking his bottled water in a unique way made the rounds on social media.   The water company had sponsored his business with millions of naira, buying him equipment, including machines, a generator, and a freezer, worth N8 million, including capital, bringing the total investment to N15 million.   Speaking in a recent video, he stated that his inexperience with money led him to mismanage it.   He appealed to Nigerians to give him a second chance.   Check Out Reactions That Trailed This:   @HottestShot_ wrote: “Na only u dey this country abi ?? Make other people taste help first before u get another one.”   @FaruqOlaifa1 stated: “When you have a mediocre mindset, it wouldn’t mat...
Read more