OTEDOLA ACQUIRES ADDITIONAL ₦222BN FIRST HOLDCO SHARES, NOW CONTROLS 26%

Billionaire businessman and Chairman of First HoldCo Plc, Femi Otedola, has increased his stake in the financial institution to 26 percent after acquiring additional shares worth approximately ₦222.2 billion.
According to a regulatory filing submitted to the Nigerian Exchange (NGX), the acquisition was carried out through his investment company, Calvados Global Services Limited, which purchased 1.779 billion ordinary shares at ₦124.90 per share.
The latest investment raises Otedola’s total shareholding in First HoldCo from about 9.99 billion shares to 11.77 billion shares, further strengthening his position as the company’s largest shareholder.
The transaction comes just weeks after Otedola acquired another 706.85 million shares valued at about ₦77.6 billion, highlighting his continued confidence in the future of the financial services group.
Industry analysts say the increased stake gives Otedola greater influence over the strategic direction of First HoldCo as the company continues its transformation and expansion efforts within Nigeria’s banking sector.
The development also reflects growing investor confidence in the banking industry, particularly as financial institutions position themselves to meet new capital requirements and strengthen their balance sheets.
With this latest acquisition, Otedola has further consolidated his investment in First HoldCo, reinforcing his long-term commitment to the institution and its growth strategy.