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[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 8 sources · 24 days · First seen · Last updated

Femi Otedola wealth and FirstHoldCo performance

Overview

Nigerian investor Femi Otedola has seen his wealth rise to approximately $2 billion, following a significant rally in FirstHoldCo Plc, the parent company of FirstBank Nigeria. The company’s market capitalization recently surpassed the ₦7 trillion threshold, marking the first time a listed Nigerian bank has reached this milestone.

This growth in equity value follows a rapid increase in Otedola’s net worth, which was estimated at $1.3 billion in March and $1.8 billion in August. His personal investment in FirstHoldCo Plc is reported to exceed $450 million.

In connection with the company’s financial performance, a dividend policy was approved by the board in July 2026, which aims to pay out at least 60 per cent of annual profit after tax to shareholders.

Entities

Femi Otedola · First Holdco Plc · FirstBank Nigeria · Strive Masiyiwa · Florence Otedola

Timeline

  1. [BUSINESS] 3 sources
    DJ Cuppy praises Femi Otedola’s business acumen and investments

    DJ Cuppy praised her father Femi Otedola’s business intelligence, highlighting his $450 million investment in First HoldCo Plc and his focus on value creation.

  2. [BUSINESS] 5 sources
    Femi Otedola’s wealth reaches $2bn following FirstHoldCo rally

    Femi Otedola’s wealth has risen to $2 billion following a rally in FirstHoldCo shares, placing him close to Africa’s richest individuals, Mohammed Dewji and Strive Masiyiwa.

Sources

businessday.ng · ghanamma.com · gistreel.com · nairametrics.com · newsonlineng.com · promptnewsonline.com · punchng.com · qed.ng