Billionaire businessman and chairman of First HoldCo Plc, Femi Otedola, has further increased his stake in the financial institution following the acquisition of 549.5 million shares valued at approximately N43.41 billion.
Newsonspot reports that the latest transaction was disclosed through an insider dealing notice filed on the Nigerian Exchange Group on Wednesday, signaling a stronger hold by the investor in the company.
According to the filing, the shares were acquired at a price of N79 per unit on May 13, 2026. The transaction involved a total of 549,535,653 ordinary shares of First HoldCo Plc.
The disclosure identified Calvados Global Services Limited as the company that executed the purchase on behalf of Otedola. The firm was described as a related entity linked to the businessman, who currently serves as chairman and a major shareholder of First HoldCo.
At the purchase price of N79 per share, the acquisition is estimated to be worth about N43.41 billion.
The latest investment increases Otedola’s stake in the financial services group from the 8.05 billion shares recorded in the company’s 2025 audited financial statements to approximately 8.6 billion shares.
Market data from the Nigerian Exchange indicates that the transaction further strengthens Otedola’s position as the largest shareholder in the company.
The acquisition comes amid growing investor confidence in First HoldCo following the group’s strong first-quarter financial performance.
In December 2025, Otedola also acquired additional shares in the company worth N14.8 billion, increasing his ownership stake to 18.12 percent at the time.
