Femi Otedola has increased his ownership in First HoldCo again. The billionaire businessman bought more shares worth N222.2 billion. As a result, his total stake in the company has now risen to about 26%.
The latest deal involved 1.779 billion shares. According to a statement signed by the company secretary, Abiola Baruwa, the shares were bought through Otedola’s investment company, Calvados Global Services Limited. Each share was purchased at N124.90. Following the transaction, Otedola’s direct shareholding increased from 9.99 billion shares to 11.77 billion shares. When his indirect holdings are added, his total ownership now stands at about 26%.
This is Otedola’s second major investment in First HoldCo this month. On July 22, 2026, he bought 706.13 million shares valued at N77.58 billion. The fresh purchase further strengthens his position as the biggest investor in the financial services group. It also shows his growing confidence in the future of the company. Investors are expected to watch closely as his influence in First HoldCo continues to expand.
With this latest acquisition, Otedola’s total investment in First HoldCo has reached about N1.47 trillion based on the company’s market value as of yesterday. The company is the parent of First Bank, one of Nigeria’s oldest financial institutions. The latest move is likely to attract attention across the banking industry and the Nigerian stock market. It also highlights the increasing importance of strategic investors in shaping the future of leading financial institutions.
