Femi Otedola Increases First HoldCo Stake With ₦77bn Share Purchase

(Femi Otedola. Photo Credit: Premuim times)

Femi Otedola, the chairman of First HoldCo Plc, has acquired an extra 706.13 million shares, increasing his stake in the financial services business to 21.96%.

According to a share trading notice submitted to the Nigerian Exchange (NGX) on Wednesday, Otedola’s holding increased from 20.42% to 21.96% as a result of the most recent acquisition.

The deal, which was carried out via Calvados Global Services Limited, his investment firm, was worth about N77.58 billion.

This latest acquisition raised Otedola’s total shareholding in First HoldCo from 9.28 billion shares to 9.99 billion shares.

Based on the company’s current market value, his investment in First HoldCo is now estimated at approximately ₦1.04 trillion, up from ₦566.43 billion as of June 18, 2026.

The purchase comes weeks after the billionaire businessman acquired 680 million shares in the financial institution through a private placement worth ₦29.6 billion, further strengthening his position as the company’s largest shareholder.