Olufemi Otedola, Chairman of First HoldCo Plc, has increased his stake in the company by purchasing 39,313,379 units valued at ₦1.21 billion. This transaction, which was executed on September 23, 2025, in Lagos, brings his direct stake to 3,251,346,245 units, representing 7.77% of the company.
According to the company’s second-quarter financials, released on July 30, 2025, Otedola previously held a direct stake of 3,212,032,866 units, equivalent to 7.67%, and an indirect stake of 3,465,560,297 units, equivalent to 8.28%. The recent acquisition was made at a share price of ₦31 per unit, under the identification code NGFBNH000009.
In addition to Otedola’s direct purchase, Calvados Global Services Limited, a company related to him, also acquired 25,565,289 ordinary shares worth ₦792.5 million at the same price and with the same transaction code. This brings his indirect holdings to 3,491,125,586 units, representing 8.34% of the company.
The Nigerian Exchange (NGX) disclosed the transaction on Thursday, providing insight into Otedola’s increasing investment in First HoldCo Plc. The company’s financials and recent transactions indicate a growing interest in the firm, with Otedola’s stakes reflecting his confidence in its potential.
As a major player in the Nigerian business landscape, Otedola’s investment decisions are closely watched. His increased stake in First HoldCo Plc may have implications for the company’s future direction and strategy. With his combined direct and indirect holdings, Otedola’s influence on the company is expected to grow, shaping its trajectory in the coming months.
The acquisition is a significant development in the Nigerian financial sector, highlighting the ongoing investment activities of major players. As the company navigates its growth trajectory, Otedola’s increased stake is likely to be a key factor in shaping its future success. With the recent transaction, all eyes are on First HoldCo Plc, awaiting the company’s next moves and the potential impact of Otedola’s expanded investment.
