Femi Otedola Boosts Stake in First HoldCo with N18bn Share Purchase

Billionaire investor and Group Chairman Femi Otedola increased his holding in First HoldCo Plc by acquiring 138.04 million ordinary shares through Calvados Global Services Limited. The shares were bought on the Lagos floor of the Nigerian Exchange Limited at N131.20 per share, amounting to a total consideration of about N18.11 billion. The transaction, disclosed on 7 August 2026, raised Otedola’s beneficial ownership to roughly 27 percent of the company, making him the single largest shareholder.

The purchase follows earlier share acquisitions in July 2026 and comes as First HoldCo pursues a recapitalisation programme mandated by the Central Bank of Nigeria. The share price of First HoldCo has risen sharply in recent weeks, reflecting investor confidence in the group’s reforms under Otedola’s leadership.