Nigerian billionaire Oba Otudeko's Honeywell Group acquires 14% of Ikeja Hotel
Oba Otudeko's Honeywell Group has acquired a 14 percent stake in Ikeja Hotel Plc, valued at approximately N13.2 billion at current market prices.
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Oba Otudeko's Honeywell Group has acquired a 14 percent stake in Ikeja Hotel Plc, valued at approximately N13.2 billion at current market prices.
The Oba Otudeko Foundation has delivered a 2,400-square-metre administrative complex to Olabisi Onabanjo University in Ogun State, adding to the Honeywell chairman's growing education legacy.
Otudeko, the largest shareholder of FBN Holdings, owes Ecobank more than $17 million.
Otudeko is the founder and chairman of Honeywell Group, a Nigerian conglomerate with holdings in property, energy and engineering services.
The recent increase in Otudeko’s stake can be attributed to a 13.9-percent increase in the company’s stock price.
The Central Bank has dissolved the defunct board of First Bank of Nigeria, expelling Honeywell Group founder Obafoluke Otudeko and Ibukun Awosika as chairpersons.