Femi Otedola raises FirstHoldCo ownership to 26% after N222bn share purchase

Femi Otedola, who chairs First HoldCo – the parent of First Bank – bought an extra 1.779 billion shares valued at approximately N222.209 billion, a filing signed by company secretary Abiola Baruwa and submitted to the Nigerian Exchange Limited yesterday shows.

The shares were purchased through Otedola’s investment arm, Calvados Global Services Limited, at a price of N124.90 per unit, bringing his holding from 9.99 billion to 11.77 billion shares and lifting his indirect stake from 21.96% to about 26%.

This deal follows an earlier July 22 transaction in which Otedola acquired 706.13 million shares for N77.58 billion, marking his second purchase in July 2026. Together, his investments in the financial group now total N1.47 trillion, the largest position held by any investor.