Billionaire businessman and Chairman of First HoldCo Plc, Femi Otedola, has increased his shareholding in the financial services group following the acquisition of 549.5 million shares valued at about N43.41 billion.
The transaction was disclosed in an insider dealing notice filed with the Nigerian Exchange on Wednesday.
According to the disclosure, the shares were acquired on May 13, 2026, at a price of N79 per unit.
The filing showed that a total of 549,535,653 ordinary shares of First HoldCo Plc were purchased through Calvados Global Services Limited, a company linked to Otedola.
At the acquisition price, the transaction is estimated to be worth approximately N43.41 billion.
The latest purchase increases Otedola’s stake in the company from the 8.05 billion shares recorded in the group’s 2025 audited financial statements to about 8.6 billion shares, further consolidating his position as the largest shareholder in the company.
Market data from the Nigerian Exchange indicated that investor interest in First HoldCo shares has remained strong following the company’s first-quarter financial performance.
Otedola had also increased his stake in the company in December 2025 through another share acquisition valued at about N14.8 billion, which raised his ownership interest to 18.12 per cent at the time.