Femi Otedola, the Chairman of FBN Holdings, the parent company of First Bank, has reiterated his dedication to the financial institution.
In a message reacting to the ongoing heated dispute with Nduka Obaigbena, the Chairman and Publisher of ThisDay and Arise News Channel, Otedola said he is determined to preserve the integrity of First Bank of Nigeria.
The disagreement between Otedola and Nduka, seemingly resulting in a media war, centres on allegations surrounding a $230 million loan, reportedly secured by GHL, the owners and operators of OML 120, a deep offshore oil block in Nigeria.
TimesNow.com.ng reported that a Federal High Court in Lagos issued an order restraining all commercial banks in Nigeria from releasing funds or handling assets belonging to the oil firm.
In response, Obaigbena has defended GHL, stating that the matter is currently in court and arbitration for resolution.
He confirmed that the oil firm has obtained a court order safeguarding its operations pending a final determination.
His words”
In a statement, Otedola countered Obaigbena’s claims, accusing the GHL Chairman of employing diversionary tactics, DailyTrust reports.
Otedola alleged.
As Chairman of FBN Holdings, Otedola also stressed his responsibility to safeguard the interests of the bankâs shareholders and depositors.
He added:
Ealier, TimesNow.com.ng reported that some First Bank shareholders have reacted to plans to remove Otedola as bank chairman.
The group of shareholders also backed the reported plans by Otedola for a N350 billion private placement.
The shareholders dismissed calls for an extraordinary general meeting and said the move was in the bankâs best interest.
Source: TimesNow.com.ng
