The Chairman of First HoldCo Plc, Femi Otedola, has increased his stake in the financial institution after acquiring an additional 1.77 billion shares through his investment company, Calvados Global Services Limited.
A statement issued by the Nigerian Exchange (NGX) showed that the transaction, valued at N222.20 billion, was completed on Thursday, July 30, 2026.
The latest acquisition raises Otedola’s total shareholding from 9.99 billion shares to 11.77 billion shares, increasing his ownership stake from 21.96 per cent to 25.88 per cent.
The purchase marks Otedola’s second major investment in First HoldCo this month. On July 22, he acquired 706.13 million shares worth N77.58 billion, further strengthening his position in the company.
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With the latest transaction, Otedola’s total investment in First HoldCo has climbed to N1.47 trillion, making him the institution’s largest shareholder.
The acquisition comes weeks after First HoldCo surpassed Zenith Bank to become Nigeria’s most valuable banking stock on the Nigerian Exchange, driven by a sustained rally in its share price.
- Otedola raises First HoldCo stake to 25.88% with N222.2bn share purchase - July 30, 2026
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