Otedola Raises Stake In First HoldCo With N12.58 Billion Share Purchase

By Sherif Salau

Femi Otedola has further strengthened his position in First HoldCo Plc after acquiring an additional 95.69 million shares valued at N12.58 billion.

The transaction was executed through his investment vehicle, Calvados Global Services Limited. With the latest purchase, Otedola’s total holding in the financial services group now stands at approximately 12.23 billion shares, equivalent to about 26.6 per cent of the company. The move lifts the value of his investment in First HoldCo to an estimated N1.61 trillion.

Otedola, who serves as chairman of First HoldCo, has steadily increased his exposure to the group in recent years. The latest acquisition underscores his continued confidence in the company’s direction and long-term prospects within Nigeria’s financial services sector.

Market watchers note that substantial insider purchases of this scale often attract attention, particularly when the buyer already holds a significant equity interest and occupies a leadership role. While the transaction does not alter the day-to-day management of the group, it reinforces Otedola’s status as the dominant shareholder and signals a clear personal commitment to the business.

First HoldCo, the holding company for one of Nigeria’s major banking groups, remains a closely followed stock on the Nigerian Exchange. The size of Otedola’s stake means that any further movements in his shareholding are likely to be monitored by investors and analysts alike.

The latest purchase adds another chapter to Otedola’s well-documented history of strategic investments across the Nigerian economy. For now, it leaves him more deeply invested in First HoldCo than at any previous point, both in terms of share count and the overall value of his holding.