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Femi Otedola lifts First HoldCo stake to 25.9% after N222 bn share purchase
Nigerian billionaire Femi Otedola increased his holding in First HoldCo Plc by buying an additional roughly 1.78‑1.79 billion ordinary shares for about ₦222 billion. The purchase, executed through his investment vehicle Calvados Global Services Limited, raised his beneficial ownership to roughly 25.86‑25.88 percent, bringing the value of his total stake to an estimated ₦1.45‑1.47 trillion.
The acquisition follows a July 22 transaction in which Otedola bought 706 million shares for about ₦77.6 billion, meaning his combined July purchases total close to ₦300 billion. Despite the sizable accumulation, his stake remains below the 30 percent threshold that would trigger a mandatory takeover offer under Nigeria’s Investments and Securities Act. Otedola serves as chairman of First HoldCo, which recently became Nigeria’s most valuable listed banking stock, overtaking Zenith Bank.
All transactions were disclosed in regulatory filings to the Nigerian Exchange and were carried out in July 2026.
Entities
Calvados Global Services Limited · Femi Otedola · First Holdco Plc · Nigerian Exchange (NGX) · Securities and Exchange Commission (SEC) of Nigeria
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 11 SOURCES] On July 22 Otedola bought 706 million First HoldCo shares for about N77 6 billion. gwg.ng · theglittersonline.com.ng · thepodiummedia.com · bizwatchnigeria.ng · investorsking.com · +4 more
- [● 11 SOURCES] Combined, Otedola’s July purchases total nearly N300 billion in fresh capital for First HoldCo. bizwatchnigeria.ng · investorsking.com · thewhistler.ng · tribuneonlineng.com · gwg.ng · +4 more
- [● 9 SOURCES] Holding below 30 percent means Otedola is not yet required to launch a mandatory takeover offer under Nigeria’s Investments and Securities Act. gwg.ng · theglittersonline.com.ng · thepodiummedia.com · www.premiumtimesng.com · thewhistler.ng · +2 more
- [● 11 SOURCES] Femi Otedola serves as chairman of First HoldCo Plc. gwg.ng · theglittersonline.com.ng · thepodiummedia.com · bizwatchnigeria.ng · investorsking.com · +4 more
- [● 11 SOURCES] Femi Otedola purchased about 1.78‑1.79 billion First HoldCo ordinary shares for roughly N222 billion. gwg.ng · theglittersonline.com.ng · thepodiummedia.com · bizwatchnigeria.ng · investorsking.com · +4 more
- [● 9 SOURCES] Otedola’s total holding in First HoldCo is valued at roughly N1.45‑1.47 trillion. gwg.ng · theglittersonline.com.ng · www.premiumtimesng.com · thewhistler.ng · tribuneonlineng.com · +2 more
- [● 9 SOURCES] First HoldCo has become Nigeria’s most valuable listed banking stock, overtaking Zenith Bank. gwg.ng · theglittersonline.com.ng · thepodiummedia.com · investorsking.com · championnews.com.ng · +2 more
- [● 11 SOURCES] The purchase raised Otedola’s beneficial ownership in First HoldCo to about 25.86‑25.88 percent. gwg.ng · theglittersonline.com.ng · thepodiummedia.com · bizwatchnigeria.ng · investorsking.com · +4 more