Chairman of First HoldCo, Femi Otedola, has increased his stake in the financial services group to about 26 per cent after acquiring an additional 1.779 billion shares valued at approximately ₦222.21 billion.
The latest acquisition was disclosed in a statement made available to the Nigerian Exchange Limited (NGX) on Thursday, July 30, 2026, by the company’s Secretary, Abiola Baruwa.
According to the statement, the shares were acquired through Otedola’s investment vehicle, Calvados Global Services Limited.
The transaction involved the purchase of 1,779,094,976 ordinary shares at ₦124.90 per share, increasing Otedola’s direct shareholding in First HoldCo from 9.99 billion shares to 11.77 billion shares.
With his indirect holdings included, his total stake in the company has risen from 21.96 per cent to approximately 26 per cent, further consolidating his position as the largest shareholder in the financial institution.
The latest purchase marks Otedola’s second major share acquisition in July 2026, following his purchase of 706.13 million shares worth ₦77.58 billion on July 22, 2026.
With the new investment, the value of Otedola’s holdings in First HoldCo has risen to about ₦1.47 trillion, making him the single largest investor in the company.
