Femi Otedola, a prominent Nigerian billionaire businessman and chairman of First HoldCo Plc, has acquired additional shares worth approximately N14.8 billion. The purchase raises his ownership in the financial services holding company to over 18 percent.
Okay News reports that the transaction involved 369,986,122 ordinary shares bought at N40.06 each on December 18, 2025. It was executed through Calvados Global Services Limited, an investment vehicle associated with Otedola.
The deal was disclosed in a regulatory filing to the Nigerian Exchange Limited (NGX), Nigeria’s primary stock exchange. Company Group Secretary Abiola Baruwa signed the notice.
This latest move builds on previous acquisitions earlier in 2025. In September, Otedola purchased 64.87 million shares valued at about N2.01 billion.
Those transactions included 39.3 million shares bought directly and 25.6 million indirectly via Calvados. They elevated his stake from 13.15 percent in September 2024 to 16.1 percent.
The September purchases cost roughly N1.2 billion directly and N793.6 million indirectly. Combined with the recent investment, they demonstrate sustained commitment.
Otedola’s growing holdings consolidate his position as a dominant shareholder. First HoldCo oversees operations in banking and related financial services in Nigeria.
The increased stake underscores his strategic influence over the group’s direction. It reflects confidence in the company’s long-term prospects.
Such insider acquisitions often signal positive outlook to market participants. They can influence investor sentiment on the NGX.
This development highlights active consolidation trends among major stakeholders in Nigeria’s financial sector.
Otedola’s moves strengthen governance and ownership stability within First HoldCo’s structure.
