Mariam Adebukola 
Femi Otedola, renowned Nigerian billionaire and business mogul has sold over 2.8 million units of his shares to Power Plc.
New Telegraph learned that, on Monday and Tuesday, the businessman who has the majority shareholder of Geregu Power Plc has offloaded his transaction.
It was further gathered that the sales of the shares in the power generation company were contained in a corporate filing on the Nigerian Exchange Limited on Wednesday.
He sold a tranche of 1,875,000 units of Geregu shares at N288.9 and another 948,092 units at the rate of N290.7 in deals worth N817.297 million.
Before uploading, the billionaire holds 95.6% of Generation Company (Genco) almost all through his own power distribution company, Amperion.
New Telegraph, however, gathered that while, Otedola offloaded that many units of shares, his brother, Olurotimi Paul, increased his stakes in Geregu Power through the acquisition of 300,000 units of shares.
Olurotimi was said to have purchased the shares at the rate of N288.9 per share, bringing the total to N86.67 million.
In February, Olurotimi purchased 3.6 million units of shares at N219 per unit and 100,000 shares at N207.9 per unit on deals worth N809.2 million.
Another Otedola brother, Ayokunle Michael, also bought four million shares at N219 per unit for N876 million on February 2.
