The visit of Femi Otedola, Chairman of FBN Holdings PLC to President Bola Tinubu in Abu Dhabi, United Arab Emirates (UAE) on Sunday is generating mixed reactions in the financial sector.
Otedola was seen in a handshake with Tinubu, who is currently in UAE Abu Dhabi to take part in the 2025 Abu Dhabi Sustainability Week (ADSW).
Though no official communication was given by the presidency on what transpired during the meeting, a presidency source informed TheScrutiny that the meeting highlights the President’s commitment to strengthening partnerships with key business leaders to drive Nigeria’s economic growth and stability.
However, some stakeholders claimed Otedola may have gone to visit the president in order to brief him on latest developments in the bank amid attempts by shareholders to remove him as chairman.
The bank, which is the oldest in Nigeria has been a subject of battle over who holds the single largest share, a development that has led to a boardroom crisis and division amongst the shareholders.
Speaking with our correspondent, a former said there is nothing spectacular about Otedola’s visit.
“This is not the first time Otedola will be meeting with President Tinubu. He is an ally of the president and declared support for him in the 2023 presidential election”.
“However, truth is that most of these big-time businessmen buy their access to the president using the boys. They are closer to the boys who facilitate their meeting with the president. They do everything within their power to meet the president”.
“It’s all about a game of power to show to their competitors they are closer to the president”.
