Billionaire and businessman, Femi Otedola, says he has no interest in holding any top position in FBN Holdings or any of its subsidiaries.
Otedola said this on Wednesday at the ExecuJet Private terminal in Lagos.
He said the recent acquisition of shares in FBN Holdings is purely an investment decision.
“Being the single largest shareholder doesn’t mean I must necessarily hold a position in the bank. I believe in allowing competent people to run institutions in a professional manner and to the benefit of all the stakeholders,” he said.
“That is an institution with a world-class corporate governance structure and a strong performing management that creates value and guarantees returns in form of dividends and capital appreciation.”
According to him, the major focus of any good investor is to see opportunities where others don’t, saying that he was convinced that FBN Holdings has a bright future, is strong, solid, and would remain a dominant player in the Nigerian financial services sector.
“I am simply an investor who saw an opportunity in the financial institution and decided to take advantage of it through the investment I have made. My interest, contrary to speculation, is not to become chairman of the bank or its Holdco. Moreover, I am in semi-retirement,” he added.