Femi Otedola, chairman of First HoldCo Plc, has increased his stake in the financial institution after acquiring 549.5 million shares valued at about N43.41 billion.
Gatekeepers News reports that the transaction was disclosed in an insider dealing notice filed with the Nigerian Exchange (NGX). According to the disclosure, the shares were purchased at N79 per unit on May 13, 2026, through Calvados Global Services Limited, a company linked to Otedola.
The acquisition raised Otedola’s total holdings in First HoldCo from about 8.05 billion shares recorded in the company’s 2025 audited accounts to approximately 8.6 billion shares, further strengthening his influence as one of the company’s major shareholders.
The development comes amid growing investor interest in First HoldCo shares following the company’s strong first-quarter 2026 financial performance.
The financial services group recently posted significant growth in profit before tax and earnings after tax, while also pursuing plans to strengthen its capital base.
