Billionaire investor and Chairman of First HoldCo Plc, Femi Otedola, has continued his aggressive acquisition of shares in the financial services group, strengthening his position as the company’s dominant shareholder.
Newsonspot reports that the latest transaction, carried out on August 14 through his investment vehicle, Calvados Global Services Limited, involved the purchase of 147,737,699 First HoldCo shares at N140 per share.
The latest acquisition comes as Otedola continues to pursue his stated ambition of increasing his equity stake in First HoldCo to more than 51 percent, which would give him outright majority ownership of the financial institution.
His sustained accumulation of shares has attracted significant market attention and further highlighted his long-term confidence in the Nigerian banking sector.
First HoldCo’s share price has also recorded a remarkable performance in 2026. The stock has gained approximately 192.28 percent year-to-date, supported by strong financial performance and sustained buying interest.
The stock reached an intraday high of N150 per share in early August, particularly around August 7, before settling around N140. Its 52-week low was N29.25 per share.
Otedola’s share purchases this year have been substantial. He has invested approximately N391 billion through a series of transactions involving Calvados Global Services Limited and other disclosed interests.
In May 2026, he acquired about 549.54 million shares valued at N43.41 billion. In June, he purchased another 672.9 million shares worth N29.6 billion under the second tranche of First HoldCo’s private placement programme.
On July 22, Otedola acquired 706.13 million shares valued at approximately N77.58 billion.
Later in July, he completed his largest single purchase of the year, acquiring 1.78 billion shares for about N222.21 billion.
In early August, he added another 138.04 million shares valued at N18.11 billion.
The latest acquisition further increases Otedola’s direct and indirect interest in First HoldCo as he moves closer to his target of majority ownership.
Market watchers will be closely monitoring his next moves, particularly as continued share purchases could further reshape the ownership structure of the financial institution and influence investor sentiment around the stock.
