First HoldCo discloses buyer in N323bn shares deal

First HoldCo Plc has disclosed that billionaire businessman Femi Otedola and the Federal Government were not involved in the sale and ownership of its shares in a recent off-market transaction.

First HoldCo made this known via a statement on Saturday, July 19, 2025.

The company noted that Barbican Capital Limited and its affiliates, as well as Leadway Group and its affiliates, were the actual sellers.

RC Investment Management Limited was also identified as the sole buyer of the shares involved in the transaction.

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First HoldCo said: “First HoldCo Plc’s attention has been drawn to media rumours regarding recent share sales involving the company.

“We affirm that the Chairman, Mr Femi Otedola, did not purchase the shares in question, nor did the Federal Government or any of its agencies.

“The shares were sold by Barbican Capital Limited and affiliates, and Leadway Group and affiliates. The buyer was RC Investment Management Limited.”

The company urged the public to ignore the rumours and depend only on its official communications for verified information.

The Star