Billionaire businessman Femi Otedola has further increased his investment in First HoldCo Plc after a related company acquired 1.77 billion ordinary shares valued at ₦222.21 billion in a single transaction on the Nigerian Exchange.
The transaction, dated July 30, 2026, was disclosed in a share dealing notification made available to Channels Television.
According to the notification, Calvados Global Services Limited, a company related to Otedola, purchased 1,779,094,976 First HoldCo shares at ₦124.90 per share on the Nigerian Exchange Limited.
The latest acquisition comes just eight days after Otedola acquired 706.13 million ordinary shares of First HoldCo worth ₦77.59 billion in a single transaction on the exchange.
The latest purchase further strengthens Otedola’s position in the financial services group, where he serves as chairman.
Otedola has been steadily increasing his stake in First HoldCo through a series of major share purchases.
In May 2025, the businessman acquired 549,535,653 shares at an average price of ₦79 per share, in a transaction valued at approximately ₦43.41 billion.
He subsequently increased his stake in September 2025 through the purchase of 39,313,379 shares valued at about ₦1.21 billion.
Otedola became chairman of First HoldCo in October 2024, following his growing investment in the group.
The billionaire has also maintained significant interests across Nigeria’s energy and financial sectors.
In May 2026, he announced plans to invest his $100 million stake in Geregu Power Plc in the Dangote Refinery.
Otedola is regarded as one of Nigeria’s leading investors and was listed among Africa’s billionaires by Forbes in March 2026.
The Forbes list also featured Dangote Group founder Aliko Dangote, BUA Group Chairman Abdulsamad Rabiu and Globacom founder Mike Adenuga.
The latest First HoldCo transaction underscores Otedola’s continued expansion of his investment in the financial services group and his growing influence in Nigeria’s capital market.
