Femi Otedola Increases Stake in First HoldCo by ₦2.01 Billion!

Sele Media Africa
www.selemedia.org
Reported by David Joshua | Sele Media Africa Reporter

Lagos — Nigerian billionaire and Chairman of First HoldCo Plc, Femi Otedola, has boosted his stake in the financial holding company with fresh purchases valued at ₦2,011,238,708. The move strengthens his position as a major shareholder in First HoldCo. [1]

Transaction Details

• On September 23, 2025, Otedola directly acquired 39,313,379 ordinary shares of First HoldCo at ₦31 per share, amounting to about ₦1.22 billion. [2]
• On the same day, Calvados Global Services Limited, a company connected to Otedola, purchased an additional 25,565,289 shares at the same price, valued at about ₦792.5 million. [2]

– Combined, the two transactions total 64,878,668 shares worth approximately ₦2.01 billion. [1]

After the Acquisition

• Following these purchases, Otedola’s direct shareholding in First HoldCo rose to 3,251,346,245 units, representing about 7.76% of issued shares. [1]
• – His indirect holdings (via associated entities) now stand at 3,491,125,586 units, or roughly 8.34%. [3]
• Overall, this brings Otedola’s total interest in First HoldCo to about 16.1%, up from roughly 13.15% in September 2024. [4]

Why It Matters

• The acquisition demonstrates Otedola’s confidence in First HoldCo Plc amid its ongoing growth and recapitalization efforts. [2]
• First HoldCo is under regulatory pressure to meet the Central Bank of Nigeria’s minimum capital requirement for banks with international licenses; Otedola’s increased stake may reflect a strategic effort to consolidate control going into that phase. [2]
• Market watchers see the move as one that could influence the company’s future governance and capital-raising choices.

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