Femi Otedola, chairman of First HoldCo Plc, has increased his shareholding in the financial services group with the purchase of additional shares valued at N14.8 billion, taking his total stake to over 18 percent.
Gatekeepers News reports that his transaction was disclosed in a regulatory notice filed with the Nigerian Exchange Group (NGX) and signed by Abiola Baruwa, the company’s group secretary.
The shares were acquired through Calvados Global Services Limited, an investment firm linked to the billionaire businessman.
Details from the disclosure show that Otedola purchased 369,986,122 ordinary shares of First HoldCo at a price of N40.06 per share on December 18. The deal further strengthens his position as the company’s largest individual shareholder.
The acquisition comes amid increased activity in Nigeria’s banking and financial services sector, where insider share purchases are often viewed by market watchers as a signal of confidence in a company’s outlook and governance structure.
Otedola has consistently raised his stake in First HoldCo over the past year. Earlier share purchases executed through both direct and indirect holdings had lifted his ownership from about 13 percent recorded in 2024 to over 16 percent before the latest transaction.
