Femi Otedola has expanded his investment in First HoldCo Plc after acquiring an additional 147.74 million shares in the financial services group for N20.7 billion.
The transaction was executed on August 14 at N140 per share through Calvados Global Services Limited, an investment vehicle associated with the billionaire businessman.
The latest acquisition adds to Otedola’s series of major purchases in First HoldCo this year, taking his disclosed share acquisitions in the company to approximately N412 billion in 2026.
Otedola, who chairs First HoldCo, has been steadily increasing his stake in the group and has previously expressed his ambition to raise his ownership above 51%.
His accumulation accelerated significantly in the second half of the year.
In May, Otedola acquired 549.54 million shares for about N43.41 billion. He followed this with the purchase of 672.9 million shares worth N29.6 billion in June through the company’s private placement programme.
Otedola increased his purchases in July, acquiring 706.13 million shares for approximately N77.58 billion on July 22.
Later that month, he made his largest disclosed acquisition, purchasing 1.78 billion shares at a cost of about N222.21 billion.
He followed the transaction with another acquisition of 138.04 million shares for N18.11 billion in early August.
The latest purchase of 147.74 million shares for N20.7 billion brings the value of his disclosed First HoldCo share purchases in 2026 to roughly N412 billion.
The aggressive accumulation has taken place alongside a strong rally in First HoldCo’s share price.
The stock closed at N140 on August 17, after reaching an intraday high of N150 earlier in the month.
Otedola’s continued purchases have made his ownership position one of the key developments being watched by investors in First HoldCo, particularly as the billionaire moves towards his stated objective of securing majority control of the financial services group.
