Otedola increases stake in First HoldCo with N43bn shares acquisition

Femi Otedola, the chairman of First HoldCo Plc, has significantly increased his ownership in the company by acquiring 549.5 million shares valued at N43.41 billion. This transaction, which was reported in an insider dealing notice on the Nigerian Exchange (NGX), took place on May 13, 2026, at a price of N79 per share. The shares were purchased through Calvados Global Services Limited, a company associated with Otedola, who is already the largest shareholder in First HoldCo. Following this acquisition, Otedola's total stake in the financial services group has risen from 8.05 billion shares to approximately 8.6 billion shares, further solidifying his control over the institution amid growing investor interest following the company's strong first-quarter performance.

Read More