Otedola vows to rebuild First HoldCo into world-class financial institution

The Chairman of First HoldCo Plc, Femi Otedola, says the ongoing restructuring of the financial services group is aimed at laying a solid foundation for long-term sustainability and the emergence of a world-class institution.

Otedola said rebuilding a large organisation such as First HoldCo would inevitably come with disruptions, including both positive and difficult changes, as the company pulls down weak structures and replaces them with a stronger operating model.

The business mogul made this known via a statement on Tuesday, February 3, 2026.

He wrote on X: “Rebuilding and restructuring a behemoth like First Holdco Plc will come with a lot of disruptions including both pleasant and unpleasant surprises.

“We must pull things apart, remove old faulty foundations and build a new experience for all our stakeholders. This is our current reality at FirstHoldco Plc but surely a new beginning here for all of us!!”

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Otedola said the transformation is anchored on transparency, accountability, and the creation of long-term value, which he described as the core pillars guiding the company’s future.

Otedola noted that the goal of the restructuring is to guarantee corporate sustainability and longevity, driven by what he called a clear vision and strong sense of purpose.

The billionaire investor also reaffirmed his commitment to the turnaround of the group, pledging continued financial and strategic support to ensure the successful repositioning of First HoldCo.

He said: “A new beginning that guarantees corporate sustainability and longevity fueled by the tenacity of purpose and veracity of vision supported by our core pillars of Transparency, Accountability, and Long Term Value for all stakeholders.

“I remain grounded in our pursuit to build a world class financial institution without distractions whilst my commitment to continue to invest my all; financial and otherwise, remains unflinching.”

The Star