Why Adebutu may take over Wema Bank.
Billionaire businessman, Chief Kessington, popularly known as Baba Ijebu, may take over Wema Bank Plc as the largest shareholder of the bank at the moment.
The deep-pocket billionaire is said to have mapped out plans to buy the majority shares of the bank using three of his businesses.
A source privy to the whole arrangement revealed that Adebutu controls single largest shares of the South West owned bank.
“He now controls the largest shares in Wema Bank Plc,” our sources insisted.
The new development has transformed the Iperu Ogun State-born business mogul as a major player in the banking industry, except any hindrance arises.
Presently, the bank is run by the duo of Moruf Oseni and Ademola Adebisi as Managing Director/Chief Executive Officer and Deputy Managing Director respectively.
They both assumed office in 2018.
Adebutu, who turns 84 in October this year, is the owner of Premier Lotto Nigeria Limited, popularly called Baba Ijebu.