Femi Otedola has acquired First HoldCo shares worth over ₦43 billion, increasing his stake in the financial services group
Billionaire businessman Femi Otedola has increased his stake in First HoldCo Plc following a fresh share acquisition valued at more than ₦43 billion.
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The transaction, executed on the Nigerian Exchange on May 13, 2026, involved the purchase of 549,535,653 shares at an average price of ₦79 per share.
The latest acquisition is estimated at approximately ₦43.41 billion and further strengthens Otedola’s influence within the financial services group.
Following the deal, Otedola’s total stake in First HoldCo rose from 8,055,314,486 shares, as disclosed in the company’s 2025 audited financial statements, to 8,604,850,139 shares.
The development also triggered strong investor activity on the Nigerian Exchange, with trading volume reportedly surpassing 563 million shares during mid-trading.
Market activity around the stock remained intense as the company’s year-to-date return climbed above 57 per cent, reflecting growing investor confidence and heightened market interest.
Otedola, who currently serves as chairman of First HoldCo, has continued to expand his investment footprint in Nigeria’s banking and financial services sector through strategic acquisitions.
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More details are expected to emerge regarding the transaction and its wider market implications.
David Okere is a journalist and contributor to Freelanews.com, covering business, governance, public affairs, and human-interest stories with a commitment to accuracy, balance, and public interest reporting.
