Femi Otedola’s Top Executive Joins First Bank Holdings As Non-Executive Director

First Bank Nigeria Holdings Plc Monday announced the appointment of Mr. Julius Omodayo Owotuga as a non-executive director.

The Holdco made the disclosure in a statement on the Nigerian Exchange Limited website, signed by the Company Secretary, Seye Kosoko.

The financial services group, which is the parent company of Nigeria’s oldest lender, First Bank, said the appointment already has the Central Bank of Nigeria’s approval.

Owotuga is a seasoned executive with experience in risk management, finance, internal controls and general administration through years of working in the oil and gas industry and the financial sector.

He is currently the deputy chief executive of Geregu Power Plc, and will be representing the interest of Mr. Femi Otedola, who is the chairman of the power generation firm.

Otedola, last year became the biggest individual shareholder of the FBN holdco.

As a boardroom man, Owotuga has been an indispensable strategist at the heart of billionaire Otedola’s investment empire right from the days of Forte Oil before businessman Abdulwasiu Sowami bought out the energy company in 2019 in a deal worth N64.9 billion and transformed it to Ardova Plc.

“While at Forte Oil, Owotuga was a member of the executive management team that restructured a then moribund company into a vibrant Industry player,” the document said.

“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.”

During his time at KPMG, he acquired working knowledge in power, financial services as well as oil and gas.

He has also attended several executive management and banking specific developmental programmes at leading educational institutions including Oxford University’s Said Business School, United Kingdom, IE Business School, Madrid, Spain and the University of Lagos, Lagos, Nigeria.

He is a CFA CharterHolder, a Fellow of The Institute of Chartered Accountants of Nigeria (ICAN), The Chartered Institute of Taxation of Nigeria (CITN) and The Institute of Credit Administration.