As of the last published result of the bank for the period ended June 2021, no shareholder-owned up to 5% of the bank whether directly or indirectly, thus fueling doubts among investors and stakeholders watching the events unfold. This threw up confusion for existing shareholders and stakeholders in the bank and Nigerian Stock Market respectively as they wondered what the latest makeup of the shareholdings of the bank is and who else might be next to declare substantial ownership. PLCs are used to automate industrial processes such as a manufacturing plant’s assembly line, an ore processing plant, or a. A PLC is a computer specially designed to operate reliably under harsh industrial environments such as extreme temperatures, wet, dry, and/or dusty conditions. Tunde Odukale, notified the bank that he has a direct and indirect shareholding of the bank amounting to about 5.36% of the bank shares. PLC stands for Programmable Logic Controller. The bank has been embroiled in a shareholder controversy over who exactly owns majority shares in the bank after billionaire investor Femi Otedola officially declared that he has about 5.07% ownership of the bank via direct and indirect holdings. Subsequently, another shareholder of the bank holding company and Chairman of the subsidiary of the bank, Mr. This is according to information shared with Nairametrics from a reliable source with knowledge of the matter. The Security and Exchange Commission is expected to make an imminent announcement on the shareholding controversy in FBN Holdings, the owners of First Bank Plc.
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