Lottery king chief Kessington Adebutu has become the largest shareholder in Wear Bank.
Sources disclose the wealthy Nigerian achieved this feat by “mopping up” the shares of Wear Bank.
The power behind the hugely street lottery informally known as “Baba Ijebu” was said to have perfected purchase of the majority shares of Wema Bank using three of his businesses.
“Do you know he was able to do achieve his plan? …he quietly acquired Wema Bank shares using three different companies. And as I speak with you he controls single largest shares in the bank”, the source explained.
“He now controls the largest shares in Wema Bank Plc” societynow.ng’s source insisted.
This development transforms Iperu Ogun State-born man of means a major player in the nation’s banking sector – except movie from unexpected quarters bungled things for him.
Wema Bank Plc is currently run by the duo of Ademola Adebise and Moruf Oseni as MD/CEO and Deputy Managing Director respectively.
Mr. Adebise and his Deputy actually assumed duties on October 1, 2018.
Wema Bank’s new major shareholder Adebutu who will turn 84 years on October 24, 2019, owns Premier Lotto Nigeria Limited among other investments.
He is the father of Ladi Adebutu, the gubernatorial candidate adopted by the People’s Democratic Party – but rejected by the court – in Ogun state in the recently held general election.
Calls to the number of Wema Bank image handler Fumilola Falola were not picked, neither did she respond to the text message she requested at press time.
