Otedola acquires additional N14.8bn shares in First HoldCo

Femi Otedola, chairman of First HoldCo Plc, has acquired additional shares valued at N14.8 billion in the financial holding company, increasing his stake to over 18 percent.

The transaction was disclosed in a notice signed by Abiola Baruwa, group company secretary, and filed with the Nigerian Exchange Group (NGX) on Thursday.

According to the filing, the shares were purchased through Calvados Global Services Limited, an investment firm associated with the billionaire.

The notice said Otedola acquired 369,986,122 units of First HoldCo shares at N40.06 per share on December 18.

On September 25, 2025, Otedola expanded his stake in the company with the acquisition of 64.87 million shares valued at N2.01 billion.

Announcing the acquisition, FBN Holdings stated that the chairman purchased 39.3 million direct shares on September 23, worth N1.2 billion.

On the same day, the billionaire acquired an additional 25.6 million indirect shares, valued at N793.6 million, through Calvados.

The purchase had increased Otedola’s stake in First HoldCo to 16.1 percent, from the 13.15 percent recorded in September 2024.(The Cable)