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Billionaire investor, Femi Otedola, has further expanded his ownership in FirstHoldCo Plc, the parent company of First Bank of Nigeria, by acquiring additional shares valued at N14.8 billion.
The recent transaction, detailed in a notice signed by Group Company Secretary, Abiola Baruwa, and submitted to the Nigerian Exchange Group (NGX) on Thursday, has increased Otedola’s stake in the financial holding company to over 17 percent.
According to the filing, the shares were bought through Calvados Global Services Limited, an investment entity linked to Otedola. The notice indicated that 369,986,122 shares were acquired on December 18 at a price of N40.06 per share.
This acquisition is the latest in a series of purchases by the businessman. On September 25, 2025, Otedola enhanced his holdings by purchasing 64.87 million shares valued at N2.01 billion.
At that time, FirstHoldCo reported that Otedola directly acquired 39.3 million shares on September 23, worth approximately N1.2 billion, along with an additional 25.6 million shares indirectly through Calvados, valued at N793.6 million.
These transactions raised his stake from 13.15 percent in September 2024 to 16.1 percent.
Frequently Asked Questions
What is Femi Otedola's current stake in FirstHoldCo Plc?
Femi Otedola currently holds over 17 percent of FirstHoldCo Plc following his recent share acquisition.
How much did Otedola invest in his latest transaction?
Otedola invested N14.8 billion in his latest share acquisition.
What investment vehicle did Otedola use for his recent purchase?
Otedola purchased the shares through Calvados Global Services Limited, an investment vehicle associated with him.
Eze Chidiebere Paul
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