The Chairman of First HoldCo Plc, Femi Otedola, has increased his ownership in the financial services group to 21.96 per cent after acquiring an additional 706.13 million shares.
A share dealing notice filed with the Nigerian Exchange (NGX) on Wednesday showed that the latest acquisition raised Otedola’s stake from 20.42 per cent to 21.96 per cent.
The transaction, executed through his investment company – Calvados Global Services Limited – is valued at approximately N77.58 billion.
The purchase increased 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, Otedola’s investment in First HoldCo is now estimated at about N1.04 trillion, up from N566.43 billion as of June 18, 2026.
The latest acquisition comes weeks after the billionaire businessman bought 680 million shares in the financial institution through a private placement worth N29.6 billion, further consolidating his position as the company’s largest shareholder.