Dr. Oba Otudeko denies allegations regarding FBN Holdings, vows to defend his reputation
Dr Oba Otudeko, one of Nigeria’s most prominent investors and industrialists, has categorically denied recent claims regarding his alleged role in FBN Holdings, pledging to defend his reputation against what he describes as unfounded allegations.
In a statement released by his General Counsel, Olasumbo Abolaji, Dr Otudeko clarified that while he served as a director and later chairman of FBN Holdings between 1997 and 2021, he never held an executive role within the organization or its banking subsidiary, First Bank of Nigeria Limited. Consequently, he stated he had no operational responsibilities during his tenure.
Dr Otudeko also disclosed that neither he nor his legal team had received any official summons or invitation from relevant authorities regarding the allegations. However, he emphasized his willingness to cooperate with any government agency conducting oversight duties, provided the process is handled with professionalism
Addressing the media, Dr. Otudeko stressed the importance of verifying sensitive information before publication to uphold fairness and accuracy. He expressed disappointment over what he described as a barrage of speculative and inaccurate reports.
At 81, Dr. Otudeko has shifted his focus to mentoring the next generation of business leaders and contributing to societal growth through enterprise. He affirmed that he has no interest in returning to an executive or non-executive role at FBN Holdings or any other organization beyond the boards he currently serves.
“FBN Holdings, a legacy institution built over 130 years, holds a special place in Dr. Otudeko’s heart. He trusts this strong foundation to guide the institution into the next era of success,” the statement read.
Dr. Otudeko concluded by expressing confidence that the truth will emerge in due course and that the appropriate forums will clarify the situation.
