FBN Holdings Management

Management criteria checks 2/4

FBN Holdings' CEO is Nnamdi Okonkwo, appointed in Jan 2022, has a tenure of 2.25 years. directly owns 0.025% of the company’s shares, worth NGN243.55M. The average tenure of the management team and the board of directors is 2.2 years and 3 years respectively.

Key information

Nnamdi Okonkwo

Chief executive officer

n/a

Total compensation

CEO salary percentage	n/a
CEO tenure	2.3yrs
CEO ownership	0.03%
Management average tenure	2.2yrs
Board average tenure	3yrs

Recent management updates

Recent updates

CEO

Nnamdi Okonkwo

2.3yrs

Tenure

Mr. Nnamdi John Okonkwo has been Group Managing Director and Director of FBN Holdings Plc since January 1, 2022. He has been Non Executive Director at FBNQuest Merchant Bank Ltd since May 10, 2022 and serv...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Nnamdi Okonkwo	Group MD & Director	2.3yrs	no data	0.025% NGN 243.6m
Samson Ariyibi	Executive Director of Investment Management & Oversight	no data	no data	0.011% NGN 108.3m
Tolulope Oluwole	Head of Investor Relations	no data	no data	no data
Oladipupo Dirisu	Head of Risk Management & Compliance	less than a year	no data	no data
Kehinde Lawanson	Head of Marketing & Corporate Communications	4.3yrs	no data	no data
Opeyemi Okojie	Head of Strategy & Corporate Development	no data	no data	no data
Oyinade Kuku	Head of Human Resources	no data	no data	no data
Bode Oguntoke	Head of Internal Audit	no data	no data	no data
Adekunle Awojobi	MD & CEO of FBNQuest Trustees	no data	no data	no data
Olumide Ibidapo	MD & CEO of FBN Insurance Brokers	no data	no data	no data
Adewale Lateef Arogundade	Acting Company Secretary	2.1yrs	no data	no data
Tseyi Hammond	MD & CEO of FBNQuest Capital	no data	no data	no data

2.2yrs

Average Tenure

Experienced Management: FBNH's management team is considered experienced (2.2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Nnamdi Okonkwo	Group MD & Director	2.3yrs	no data	0.025% NGN 243.6m
Samson Ariyibi	Executive Director of Investment Management & Oversight	1.7yrs	no data	0.011% NGN 108.3m
Peter Aliogo	Independent Non-Executive Director	3yrs	no data	no data
Babatunde Hassan-Odukale	Chairman of FirstBank	no data	no data	4.45% NGN 43.1b
Adesola Adeduntan	Non-Executive Director	8.3yrs	no data	0.053% NGN 509.5m
Ibukun Awosika	Chairman of First Bank	8.3yrs	no data	no data
Muhammed Abdul-Razaq	Independent Non-Executive Director	3yrs	no data	no data
Kofo Dosekun	Independent Non-Executive Director	3yrs	no data	no data
Abiodun Fatade	Independent Non-Executive Director	3yrs	no data	no data
Mallam Maccido	Chairman of FBNQuest Merchant Bank?	no data	no data	no data
Olusegun Alebiosu	Chairman of FBN Insurance Brokers	2.3yrs	no data	no data
Olufemi Otedola	Chairman	1.3yrs	no data	no data

3.0yrs

Average Tenure

57yo

Average Age

Experienced Board: FBNH's board of directors are considered experienced (3 years average tenure).

FBN Holdings Management

Management criteria checks 2/4

Key information

Recent management updates

High number of new and inexperienced directors

No independent directors

FBN Holdings plc Appoints Seni Adetu and Mrs. Juliet Anammah as Independent Non-Executive Directors

Recent updates

FBN Holdings Plc announced a financing transaction

Investor sentiment deteriorates as stock falls 17%

Investor sentiment improves as stock rises 24%

Investor sentiment improves as stock rises 15%

Full year 2023 earnings released: EPS: ₦8.56 (vs ₦3.75 in FY 2022)

New major risk - Share price stability

Investor sentiment deteriorates as stock falls 15%

Investor sentiment improves as stock rises 21%

New minor risk - Share price stability

Investor sentiment improves as stock rises 16%

Third quarter 2023 earnings released: EPS: ₦1.35 (vs ₦0.96 in 3Q 2022)

Upcoming dividend of ₦0.50 per share at 2.8% yield

Second quarter 2023 earnings released: EPS: ₦3.82 (vs ₦0.67 in 2Q 2022)

Investor sentiment improves as stock rises 18%

Price target increased by 16% to ₦13.60

Investor sentiment improves as stock rises 18%

Full year 2022 earnings released

Price target decreased to ₦10.82

High number of new and inexperienced directors

Third quarter 2022 earnings released: EPS: ₦0.96 (vs ₦0.069 in 3Q 2021)

Price target decreased to ₦11.00

Second quarter 2022 earnings released: EPS: ₦0.66 (vs ₦0.62 in 2Q 2021)

Investor sentiment improved over the past week

Price target increased to ₦11.85

Upcoming dividend of ₦0.35 per share

First quarter 2022 earnings released: EPS: ₦0.89 (vs ₦0.43 in 1Q 2021)

No independent directors

Price target increased to ₦10.89

Third quarter 2021 earnings: EPS in line with expectations, revenues disappoint

Investor sentiment deteriorated over the past week

Investor sentiment improved over the past week

Consensus forecasts updated

Second quarter 2021 earnings released: EPS ₦0.62 (vs ₦0.35 in 2Q 2020)

Consensus forecasts updated

Consensus forecasts updated

First quarter 2021 earnings released: EPS ₦0.43 (vs ₦0.61 in 1Q 2020)

Upcoming dividend of ₦0.45 per share

Full year 2020 earnings released: EPS ₦2.06 (vs ₦1.74 in FY 2019)

Price target raised to ₦10.21

Full year 2020 earnings released: EPS ₦1.79 (vs ₦1.95 in FY 2019)

Price target raised to ₦9.38

Revenue behind estimates

FBN Holdings plc Appoints Seni Adetu and Mrs. Juliet Anammah as Independent Non-Executive Directors

Third quarter 2020 earnings released: EPS ₦0.52

Market bids up stock over the past week

New 90-day high: ₦6.85

New 90-day high: ₦6.40

New 90-day high: ₦5.35

Sanlam Emerging Markets (Pty) Limited acquired remaining 65% stake in FBN Insurance Limited from FBN Holdings Plc (NGSE:FBNH).

CEO

Tenure

Leadership Team

Average Tenure

Board Members

Average Tenure

Average Age