Chairman of First HoldCo Plc, Femi Otedola, has strengthened his ownership position in the financial services group after acquiring an additional 549.5 million shares valued at about N43.4bn.
The acquisition was disclosed in an insider trading notice filed with the Nigerian Exchange on Wednesday.
According to the filing, the shares were purchased on May 13, 2026, at N79 per share.
The disclosure showed that the transaction involved 549,535,653 ordinary shares acquired through Calvados Global Services Limited, a company associated with Otedola.
Based on the transaction price, the total value of the deal was estimated at approximately N43.41bn.
The latest acquisition raises Otedola’s total shareholding in First HoldCo from about 8.05 billion shares, as contained in the group’s 2025 audited financial statements, to roughly 8.6 billion shares.
The move further reinforces his position as the single largest shareholder in the financial holding company.
The development comes amid sustained investor interest in First HoldCo shares following the group’s recent financial performance and broader activities in the banking sector.
Market data from the Nigerian Exchange showed that the company’s shares have continued to attract attention from investors in recent months.
Otedola has steadily expanded his stake in the company over the past year.
In December 2025, he acquired additional shares in the group worth about N14.8bn, increasing his ownership stake to 18.12 per cent at the time.
The latest transaction is expected to further strengthen his influence in the strategic direction and ownership structure of the company.
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