Otedola raises FirstHoldco stake to 26% with N222bn share purchase

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Femi Otedola

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By Peter Egwuatu

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Femi Otedola, Chairman of First HoldCo Plc, has increased his stake in the financial institution after acquiring additional 1.779 billion shares valued at N222.209 billion.

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The acquisition was disclosed in a statement signed by the company’s Secretary, Abiola Baruwa, and filed with the Nigerian Exchange Limited (NGX) on Thursday.

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According to the statement, the shares were purchased through Otedola’s investment vehicle, Calvados Global Services Limited, at N124.90 per share.

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The latest transaction increased Otedola’s holdings in First HoldCo from 9.99 billion shares to 11.77 billion shares, raising his stake from 21.96 per cent to approximately 26 per cent.

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The acquisition marks the second major share purchase by Otedola in First HoldCo in July 2026. On July 22, 2026, he acquired 706.13 million shares of the company valued at N77.58 billion.

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With the latest purchase, Otedola’s investment in First HoldCo has risen to about N1.47 trillion, making him the largest individual investor in the financial institution.

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