Femi Otedola has acquired additional shares in First HoldCo Plc valued at approximately N43.41 billion.
The transaction was disclosed in a regulatory filing submitted to the Nigerian Exchange Limited and signed by the group company secretary, Abiola Baruwa.
According to the filing, the acquisition was executed on the Nigerian Exchange on May 13, 2026.
The purchase involved 549,535,653 shares acquired at an average price of N79 per share.
Following the latest transaction, Otedola’s total stake in First HoldCo increased from 8,055,314,486 shares recorded in the company’s 2025 audited financial statements to 8,604,850,139 shares.
His ownership in the financial institution has now risen to 19.36 per cent.
The latest acquisition represents Otedola’s biggest single investment in the company since he became chairman in January 2024.
The billionaire investor has steadily increased his stake in the company over the past two years.
In September 2025, Otedola acquired an additional 64.87 million shares valued at about N2.01 billion.
The earlier purchase included 39.3 million shares bought directly for approximately N1.2 billion and another 25.6 million shares valued at N793.6 million acquired indirectly through Calvados Global Services Limited.
Those transactions increased his shareholding from 13.15 per cent in September 2024 to 16.1 per cent by September 2025.
The latest move further strengthens Otedola’s influence within First HoldCo as the company continues to position itself within Nigeria’s financial services sector.
