Billionaire businessman and First HoldCo Plc Chairman, Femi Otedola, has acquired an additional 147.74 million shares in the financial services group for approximately N20.68 billion.
The transaction, which took place on August 14, 2026, was carried out through Calvados Global Services Limited, an investment vehicle associated with Otedola. The shares were purchased at N140 each, according to a regulatory filing with the Nigerian Exchange (NGX).
The latest acquisition increased Otedola’s disclosed holdings from about 11.99 billion shares, representing 26.1 per cent, to approximately 12.13 billion shares, or 26.4 per cent of First HoldCo.
The purchase is part of a series of major investments Otedola has made in First HoldCo this year. His disclosed acquisitions in 2026 now total roughly N412 billion, including a N222.2 billion purchase of about 1.78 billion shares in July and another N18.11 billion acquisition in early August.
Otedola has previously indicated that his investment strategy favours majority ownership, and his continued accumulation of First HoldCo shares has fuelled speculation about his long-term plans for the financial services group.
First HoldCo is the parent company of FirstBank Nigeria and other financial services businesses. The sustained buying has also made Otedola’s growing stake one of the major developments being closely watched by investors in Nigeria’s capital market.
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