Femi Otedola, chairman of First HoldCo Plc, has deepened his grip on the financial institution by buying 706.13 million additional shares for N77.58 billion. The insider share dealing, disclosed to the Nigerian Exchange on Wednesday, pushes his total ownership from 20.42 per cent to 21.96 per cent of the company.
Otedola acquired the shares through Calvados Global Services Limited, his investment vehicle, bringing his total stake to 9.99 billion shares. His holdings in First HoldCo are now valued at N1.04 trillion, up sharply from N566.43 billion in mid-June.
The transaction marks his second major investment in the firm within weeks. In June, the billionaire investor purchased 680 million shares through a private placement valued at N29.6 billion, further cementing his control of the financial services group.
These moves underscore Otedola's confidence in First HoldCo's prospects and his determination to expand his influence within Nigeria's financial sector. The purchases position him as the company's dominant shareholder.
