Otedola says First HoldCo’s inclusion in FTSE frontier index reflects investor confidence

Femi Otedola, chairman of First HoldCo Plc, says the company’s inclusion in the FTSE Frontier 50 Index is a milestone in its evolution.

In a statement by the company on Monday, Otedola said the development also reflects investor confidence in First HoldCo and the strength of its governance and business model.

“Our inclusion in the FTSE Frontier 50 Index is a defining milestone in FirstHoldCo’s evolution,” he said.

“It affirms the transformation we are driving, the confidence investors continue to place in our institution, and the strength of our governance and business model.”

Wale Oyedeji, group managing director of First HoldCo, said the development reflects the discipline and execution focus of the board, management and employees.

“This achievement reflects the discipline, commitment and execution focus of our Board, Management and employees,” he said.

“It validates the progress we have made in strengthening performance, enhancing operations and positioning FirstHoldCo for sustainable growth.”

Oyedeji said the inclusion would elevate First HoldCo’s visibility among global institutional investors and reinforce its ambition to become a leading African financial services provider.

He said First HoldCo remains focused on building a stronger, more profitable and globally competitive financial services group while delivering superior and sustainable value to shareholders.

The company said the recognition would strengthen its visibility among global institutional investors seeking exposure to frontier markets.

“Interestingly, this is bigger than the FTSE Rusell Index,” the company said

“The inclusion of FirstHoldCo places it along with five other companies from Nigeria among the most liquid and investable companies across frontier markets, affirming its rising relevance to global institutional investors seeking quality exposure to Africa’s largest economy.”

First HoldCo said its improved market position and liquidity profile have been supported by strong market performance, improved financial results and execution of its strategic priorities.

The company said enhanced governance standards and its focus on long-term shareholder value have also helped strengthen investor interest.

First HoldCo said it has met the Central Bank of Nigeria’s (CBN) minimum capital requirement and remains focused on strengthening its capital base.

The bank said the move would reinforce financial resilience and create capacity for accelerated growth across its businesses.

According to the company, its strengthened balance sheet, disciplined execution and expanding shareholder base position it to compete with greater scale, agility and confidence.

First HoldCo said it would continue to invest in digital transformation, customer experience and operational efficiency while maintaining a focus on sustainable growth.

The bank said its emphasis on governance, innovation and environmental, social and governance principles would further support institutional confidence in the group.

The FTSE Frontier 50 Index inclusion takes effect on September 21.

First HoldCo was among six major Nigerian companiesincluded in the FTSE Frontier 50 Index in FTSE Russell’s September 2026 semi-annual review.