Femi otedola

Otedola is also the founder of Zenon Petroleum and Gas Ltd, femi otedola, femi otedola the owner of a number of other businesses across shipping, real estate and finance. He has recently invested in power generation as part of the liberalization of the sector in Nigeria.

The First Bank of Nigeria Holdings has appointed Nigerian billionaire and businessman, Femi Otedola, as the new chairman of its board of directors. Otedola, who recently expressed his excitement about his return to the Forbes African Billionaires list after a seven-year hiatus, takes over from the outgoing Chairman of the board, Alhaji Ahmad Abdullahi. Before then, the last time the business mogul appeared on the Forbes Africa list was in This year, he took the 20th spot on the list. The decision of the financial institution followed a recent meeting of the board held today. The bank disclosed this in a corporate filing on the Nigerian Exchange Limited NGX , notifying investors of the new development.

Femi otedola

In , Mr. In addition to his role at Geregu Power Plc, Mr. Transport Limited, F. In , following the consolidation of his father's businesses, Mr. Otedola diversified into finance, investment, and trading, establishing his own company, Centreforce Limited. Expanding his ventures, he incorporated Seaforce Shipping Company Limited in , managing a modern tanker fleet comprising vessels such as Mt. Sir Michael, Mt. Lady Doja, Mt. Nana, and Mt. Zenon Conquest, with a total deadweight of 60, metric tons, dedicated to transporting petroleum products. In , he became a pioneer director of the Transnational Corporation of Nigeria Plc and was elected president of the Nigeria Chamber of Shipping in April of the same year. He holds the position of a fellow at the Nigerian Institute of Shipping. Throughout his career, Mr. Otedola has actively participated in various boards and committees, including the National Economic Management Team from September to May and the Honorary International Investors Council under Baroness Lynda Chalker's leadership.

In Decemberhe divested from the company by selling his shareholdings to the Ignite Consortium led by Prudent Energy Services Limited femi otedola handed over in June after completing the transaction.

He is a visionary entrepreneur with a track record of pioneering businesses, growing and transforming corporations. His first foray into the downstream sector of the oil and gas industry began with Zenon Petroleum and Gas Limited thus disrupting and redefining standards in the industry. He thereafter initiated the purchase of majority shareholding in the then African Petroleum Plc in May and became the Chairman of the Board on 25 May The company grew in leaps and bounds to become a model of the possibilities inherent in Nigeria, winning numerous accolades in recognition of the successful business turnaround, diversified portfolio, prompt financial reporting, strong corporate governance, and investment of choice within the oil and gas industry. In December , he divested from the company by selling his shareholdings to the Ignite Consortium led by Prudent Energy Services Limited and handed over in June after completing the transaction. This is a demonstration of his long-term interest in the Power sector dating back to , when he took a strategic decision to participate in the Privatization Programme of the Nigerian Government. He has investments spread across various other interests including storage, shipping, and insurance brokerage in addition to port agency and petroleum retail outlets and he has built a formidable, value-driven presence along the downstream value chain.

Nigerian billionaire businessman and philanthropist Femi Otedola has achieved yet another significant milestone in his illustrious career with his recent appointment as a Non-Executive Director on the Board of First Bank of Nigeria Holdings Plc. As the largest stakeholder in the Lagos-based financial services holding group, with an impressive 5. His success can be attributed to his business acumen and exceptional ability to identify opportunities in high-growth industries ahead of others, amassing an impressive fortune over the years. The appointment letter conveyed the news of his new role as a non-executive director, outlining an initial term of four years, subject to satisfactory performance and an annual performance appraisal. The tenure may be extended for two additional terms of four years each, subject to age limitations stipulated by the Central Bank of Nigeria.

Femi otedola

In addition to Dangote, the country is also home to other Forbes-recognized billionaires. The story of how the richest Black man in the world started his company from scratch will always inspire many entrepreneurs. Mike Adenuga made his wealth through telecom and oil production. He operates the second largest telecom operator in Nigeria, Globacom. In addition, Adenuga is into oil exploration. His firm, Conoil Producing , operates six oil blocks in the Niger Delta. He made his first million at age 26 selling lace and distributing soft drinks. He is the founder of BUA Group , which is mainly into cement production, sugar refining, and real estate. His first business line was in iron, steel, and chemical imports.

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Wesley J. Newswatch Times. Hidden categories: All articles with dead external links Articles with dead external links from September Articles with permanently dead external links Articles with short description Short description is different from Wikidata EngvarB from September Use dmy dates from September Articles with hCards. Nigerian businessman born In particular, both sisters traveled frequently to Nigeria and said that dating wealthy men there was easy. Contact: [email protected]. Bandits abduct 15 students in Sokoto. Download as PDF Printable version. Archived from the original on 18 February Zenon Conquest, with a total deadweight of 60, metric tons, dedicated to transporting petroleum products. Africa News Service.

Otedola is also the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate and finance. He has recently invested in power generation as part of the liberalization of the sector in Nigeria. Femi Otedola's first daughter, Tolani, is a singer.

Join the excitement at 24Lottos. Search Search. Africa News Service. He was appointed a member of the Governing Council of the Nigerian Investment Promotion Council NIPC in January and in December of the same year, he became a member of the committee saddled with the task of fostering business relationships between the Nigerian and South African Private sectors. Femi has a rich experience in corporate boards having held several board memberships, including President of the Nigerian Chamber of Shipping. Policy Terms of Use Sitemap. As the world faces unprecedented challenges, one thing remains clear: the power to shape our own destiny lies within our hands. Tinubu to decide on border reopening. Archived from the original on 13 November In , he became a pioneer director of the Transnational Corporation of Nigeria Plc and was elected president of the Nigeria Chamber of Shipping in April of the same year. Retrieved 18 February A merger of this personal holding with Zenon's brought Otedola's total stake to Retrieved 3 September