Billionaire investor Femi Otedola has further increased his ownership in FirstHoldCo Plc, the parent company of First Bank of Nigeria, after acquiring additional shares valued at ₦14.8 billion.
The latest transaction, disclosed in a notice signed by Group Company Secretary, Abiola Baruwa, and filed with the Nigerian Exchange Group (NGX) on Thursday, has pushed Otedola’s stake in the financial holding company to over 17 percent.
According to the filing, the shares were purchased through Calvados Global Services Limited, an investment vehicle linked to Otedola. A total of 369,986,122 shares were acquired on December 18 at ₦40.06 per share.
This move represents the latest in a series of strategic share acquisitions by the businessman. On September 25, 2025, Otedola expanded his holdings with the purchase of 64.87 million shares valued at ₦2.01 billion.
At the time, FirstHoldCo disclosed that 39.3 million shares were acquired directly on September 23, worth about ₦1.2 billion, while another 25.6 million shares were bought indirectly through Calvados for ₦793.6 million.
Those earlier transactions raised his stake to 16.1 percent, up from 13.15 percent recorded in September 2024, further strengthening his influence in one of Nigeria’s largest financial institutions.
