The Securities and Exchange Council is currently conducting an investigation into the acquisition of 4.7 billion shares of FBN Holdings by former Chairman Oba Otudeko.

A source within the commission revealed that the contentious deal, which was published on the Nigerian Exchange Limited’s website on July 7, is currently under scrutiny.

Capital market experts have noted that Otudeko’s acquisition followed due capital market regulations.

They suggest that the conflict between Ecobank and Otudeko can be resolved through mutually acceptable arbitration.

Boniface Okezie, the National Coordinator of the Progressive Shareholders Association of Nigeria, emphasized Otudeko’s right to invest his money as he wishes.

The parties involved are urged to engage in dialogue to resolve the conflict.