Chairman of First HoldCo Plc, Femi Otedola, has acquired an additional 95.7 million shares in the financial services group for N12.58 billion, further increasing his ownership of the company.
The transaction was disclosed in a regulatory filing submitted to the Nigerian Exchange on Monday August 24 and signed by the Group Company Secretary, Abiola Baruwa.
According to the filing, Otedola’s investment vehicle, Calvados Global Services Limited, purchased 95,699,240 ordinary shares of First HoldCo at N131.48 per share on August 24, 2026.
The latest acquisition raised Otedola’s total holdings in the company from approximately 12.05 billion shares to 12.15 billion shares, representing about 26.6 per cent ownership.
The purchase further consolidates his position as First HoldCo’s largest shareholder.
First HoldCo closed trading at N127.90 per share on Monday, reflecting a year-to-date gain of 162.09 per cent. At the closing price, Otedola’s total stake in the company is estimated to be worth about N1.56 trillion.
The latest transaction is part of a series of major share purchases by the billionaire investor in recent months.
Recall that last week, Otedola acquired an additional 147.74 million shares valued at N20.68 billion, following another purchase of 138.04 million shares worth N18.11 billion earlier in August.
In July, he also bought 1.779 billion shares valued at about N222.2 billion and another 706.13 million shares worth approximately N77.6 billion.
The acquisitions come shortly after Otedola disclosed plans to increase his ownership of First HoldCo to more than 51 per cent.
He said majority ownership would give him greater flexibility to undertake reforms, implement restructuring measures and pursue long-term value creation for shareholders.
First HoldCo has remained one of the strongest-performing banking stocks on the NGX in 2026, amid increased investor interest and expectations over the group’s transformation strategy.
