Femi Otedola, chairman of First HoldCo Plc, has boosted his stake in the financial holding company to over 18 percent after acquiring additional shares valued at N14.8 billion.
According to a filing with the Nigerian Exchange Group (NGX) signed by group company secretary Abiola Baruwa on Thursday, Otedola purchased 369,986,122 units of First HoldCo shares at N40.06 per share. The shares were acquired through Calvados Global Services Limited, an investment firm linked to the billionaire.
This latest purchase follows an earlier stake expansion in September 2025, when Otedola acquired 64.87 million shares worth N2.01 billion. Of that total, 39.3 million were direct shares valued at N1.2 billion, while an additional 25.6 million were acquired indirectly through Calvados for N793.6 million.
The September acquisition had increased Otedola’s ownership from 13.15 percent in September 2024 to 16.1 percent. With the December transaction, his holding now exceeds 18 percent, further consolidating his influence in First HoldCo.
The acquisitions reflect Otedola’s ongoing strategy to strengthen his position in the company, positioning him as one of its most significant shareholders.
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