FBN Holdings divest from microfinance Bank


First Bank of Nigeria Holdings Plc has notified the Nigerian Stock Exchange (NSE) of its divestment from FBN Microfinance Bank Limited.

A statement signed by FBN Holdings Company’s Secretary, Tijani Borodo and Head Finance , Oyewole Ariyibi,
stated that the Holdings company has obtained  Central Bank of Nigeria (CBN)  approved to divest from its microfinance subsidiaries.

The statetment to NSE also said FBN Holdings has executed a sale and Purchase Agreement (SPA) with Letsheg Holdings Limited for sell of its shares.

The transaction according to the statement is expected to be executed before the end of the current financial year.

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