Geregu Deputy CEO, Julius O. Owotuga appointed to FBN Holdings board

The Deputy Chief Executive of Geregu Power Plc, Julius B. Omodayo-Owotuga, FCA, CFA, has been appointed to the FBN Holdings Board. This was confirmed in a statement issued by the bank and posted on the NGX site on Tuesday.

Omotayo-Owotuga, who was the Group Executive Director, Finance & Risk Management of Forte Oil Plc (now Ardova Plc) joined FBN Holdings Board as a Non-Executive Director following the approval of his appointment by the Central Bank of Nigeria, according to the notification sent by the company secretary to the NGX.

What FBN Holding is saying about the appointment

It stated, “In accordance with the Nigerian Exchange Limited (NGX) rule book, we hereby notify the NGX and the investing public of the appointment of Mr Julius Omotayo-Owotuga, as a Non-Executive Director of FBN Holdings Plc. The appointment has been approved by the Central Bank of Nigeria.

“Julius B. Omodayo-Owotuga is currently the Deputy Chief Executive of Geregu Power Plc. JB is a Finance expert with huge experience in Finance, Risk Management, Treasury, Internal Controls, General Administration, Procurement, and Information Technology.

“While at Forte, he was a member of the Executive Management Team that restructured a then moribund company into a vibrant industry player. He equally led the capital restructuring, acquisitions, debt capital raise, maiden credit rating and divestment initiatives. Prior to joining Forte Oil Plc, he had responsibility for the Asset and Liabilities Management function at the Africa Finance Corporation.

“He is a KPMG trained finance professional who possesses extensive investment experience spanning Financial Services, Power and Oil & Gas sectors with a proven track record of significant achievements. His two decades work experience spans blue chip companies such as KPMG; Standard Chartered Bank; Africa Finance Corporation (AFC); Forte Oil Plc, MBC International Bank (Now First Bank of Nigeria Limited) and Geregu Power Plc.”

Back story

Nairametrics had reported that Femi Otedola had recently acquired additional 200,000 volumes of shares at an aggregate price of N11.52 per share.

This was notified by First Bank Holdings through the Nigerian Exchange Limited as is required by the NGX for quoted companies to notify the exchange and investing public of insider dealings.

Otedola, a Nigerian billionaire has been given the status of a significant shareholder following his purchase of the Tier-1 bank’s shares sometime in October which triggered enormous increase in the bank’s share price before it was revealed that the billionaire was behind the purchase of the shares.

At the time, First Bank Holdings Plc released a notice to inform investors of the newest significant shareholder of the group.