Billionaire businessman and Chairman of First HoldCo Plc, Femi Otedola, has significantly increased his stake in the financial services group after acquiring 1.77 billion additional shares valued at more than N222.2 billion.
The transaction, executed through his investment company, Calvados Global Services Limited, was disclosed in a regulatory filing submitted to the Nigerian Exchange (NGX) on Thursday.
The latest acquisition further consolidates Otedola’s position as a major shareholder in First HoldCo, reinforcing investor confidence in the company’s long-term growth strategy and corporate direction.
Although the filing did not provide further details on the strategic intent behind the purchase, the sizeable investment is expected to strengthen Otedola’s influence within the financial institution and underscores his continued commitment to the group’s future.
The development comes as First HoldCo continues to pursue reforms aimed at enhancing shareholder value, improving operational performance and reinforcing its position in Nigeria’s competitive banking and financial services sector.
The Nigerian Exchange confirmed that the transaction involved 1.77 billion ordinary shares acquired through Calvados Global Services Limited, with the deal valued at approximately N222.20 billion.
