Otedola Increases Stake in First HoldCo with N14.8 Billion Share Purchase
Femi Otedola, chairman of First HoldCo Plc, has expanded his ownership in the financial services group with a fresh share acquisition worth about N14.8 billion, lifting his stake to more than 18 per cent.
The latest transaction was disclosed in a notice to the Nigerian Exchange Group (NGX) on Thursday, signed by the company’s group secretary, Abiola Baruwa.
Details from the filing show that the billionaire investor purchased 369,986,122 ordinary shares at N40.06 each on 18 December. The acquisition was executed through Calvados Global Services Limited, an investment vehicle linked to Otedola.
The new purchase builds on earlier deals this year. On 25 September 2025, Otedola increased his holdings with the acquisition of 64.87 million shares valued at about N2.01 billion. At the time, First HoldCo disclosed that he had bought 39.3 million shares directly on 23 September for roughly N1.2 billion, while also acquiring another 25.6 million shares indirectly through Calvados at a cost of N793.6 million.
Those transactions raised his interest in the company to 16.1 per cent, up from 13.15 per cent recorded in September 2024.
With the latest investment, Otedola has further consolidated his position as a major shareholder in First HoldCo, underscoring his growing influence in the group’s ownership structure.
