The bank’s board also approved the appointment of Ini Ebong as the Deputy Managing Director of FirstBank.
Mr Olufowose is the group managing director of First Ally Capital Ltd., an investment banking firm based in Lagos.
The market opened four days due to the May Day holiday, and FBN Holdings led the gainers’ table by 32.68 per cent to close at N27 per share.
Mr Arogundade said the business mogul has built a formidable and value-driven presence along the downstream value chain.
As Mr Otudeko now leads the battle for the control of First Bank of Nigeria Holdings Plc with 14 per cent shareholding, Mr Otedola drops to second with nine per cent.
