Femi Otedola, chairman of First HoldCo Plc, has acquired additional shares worth N14.8 billion, further increasing his stake in the financial holding company to over 18 percent.
Gatekeepers News reports that the transaction was disclosed in a notice signed by Abiola Baruwa, group company secretary, and filed with the Nigerian Exchange Group (NGX) on Thursday.
According to the filing, the shares were purchased through Calvados Global Services Limited, an investment firm associated with Otedola.
The billionaire acquired 369,986,122 units of First HoldCo shares at N40.06 per share on December 18.
This latest acquisition follows Otedola’s earlier stake expansion in September 2025, when he purchased 64.87 million shares valued at N2.01 billion.
- On September 23, he bought 39.3 million direct shares worth N1.2 billion.
- On the same day, he also acquired 25.6 million indirect shares through Calvados, valued at N793.6 million.
The September transactions had increased Otedola’s stake from 13.15 percent in September 2024 to 16.1 percent, further consolidating his influence in First HoldCo.
