Chairman of First HoldCo Plc, Femi Otedola, has increased his stake in the financial services group to about 26 percent after acquiring shares worth N222.2 billion.
The latest deal involved the purchase of 1.78 billion shares at N124.90 per unit through his investment vehicle, Calvados Global Services Limited, according to a regulatory filing with the Nigerian Exchange (NGX).
The acquisition raises Otedola’s total shareholding from 9.99 billion shares to 11.77 billion, further strengthening his position as the company’s largest shareholder.
This marks his second major share purchase in July 2026, following an earlier acquisition of 706.13 million shares valued at N77.58 billion, which had increased his stake to 21.96 percent.
With the latest transaction, Otedola’s total investment in First HoldCo is now estimated at N1.47 trillion, the highest held by any investor in the company.
The continued share purchases come amid strong performance by the banking group, whose shares have surged to record levels in 2026, driven by improved earnings and investor confidence.
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