started · updated
Femi Otedola boosts First HoldCo stake with over ₦600 bn investment
Billionaire businessman Femi Otedola has disclosed that he has invested more than ₦600 billion of his personal wealth in First HoldCo Plc, describing the commitment as a "generational bet" to transform one of Nigeria’s oldest financial institutions. In a series of recent transactions, Otedola’s investment vehicle Calvados Global Services Limited bought an additional 138,041,465 ordinary shares at ₦131.20 each, a purchase valued at about ₦18.1 billion. The deal raised his ownership from roughly 25.8 percent to about 26 percent of the bank‑holding group. Otedola said, "I have invested over ₦600 billion of my personal wealth in First HoldCo Plc," emphasizing his confidence in the company’s fundamentals and long‑term growth prospects. Following the share purchases, First HoldCo’s market value surged past N6.8 trillion, its share price hitting record levels and making it the most valuable listed banking group in Nigeria.
Entities
All Progressives Congress · Aradel Holdings · Bola Ahmed Tinubu · Bola Tinubu · Calvados Global Services Limited · Cardinal John Onaiyekan · Catholic Bishops Conference of Nigeria · Catholic Bishops' Conference of Nigeria · Catholic Bishops’ Conference of Nigeria · Dino Melaye · Femi Otedola · First Holdco Plc
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Banditry is the main cause of micro‑economic instability and Tinubu is fighting bandits to restore farming.
- [○ 1 SOURCE] Kalu will resign from the APC if Tinubu ever disrespects the Catholic bishops or the opposition.
- [● 3 SOURCES] Tinubu has a good relationship with the Catholic Church. thewhistler.ng
- [● 3 SOURCES] President Bola Tinubu did not insult the Catholic bishops. thewhistler.ng
- [○ 1 SOURCE] Tinubu’s administration has made progress in infrastructure development and economic reforms.
- [○ 1 SOURCE] Tinubu’s government has stabilized Nigeria’s macroeconomy.
- [○ 1 SOURCE] The All Progressives Congress failed to effectively communicate Tinubu’s achievements to Nigerians.
- [○ 1 SOURCE] Security successes have been recorded in Niger and Kebbi under Tinubu’s leadership.
- [● 2 SOURCES] Kalu said Tinubu’s administration has stabilised macro‑economic indicators such as the exchange rate, fuel price and foreign‑direct investment. newtelegraphng.com
- [○ 1 SOURCE] Dino Melaye warned Tinubu that political endorsements cannot guarantee election success, citing the “God factor” and the failed civilian transition of former military ruler Sani Abacha.
- [● 3 SOURCES] Kalu claimed President Tinubu has not insulted the Catholic bishops and has a good relationship with the Catholic Church. www.thegeniusmedia.com.ng · thewhistler.ng · newtelegraphng.com
- [● 2 SOURCES] The presidency approved the acquisition of Shell Petroleum Development Company assets by the Renaissance Africa Energy consortium and Seplat Energy’s acquisition of Mobil Producing Nigeria Unlimited’s