Billionaire investor and chairman of FirstHoldCo Plc, Femi Otedola, has strengthened his position in the financial services group following a fresh ₦14.8 billion share acquisition, further consolidating his influence in the company.

A regulatory filing submitted to the Nigerian Exchange Limited (NGX) disclosed that the shares were acquired through Calvados Global Services Limited, an investment vehicle linked to Otedola. The transaction involved hundreds of millions of ordinary shares, purchased at an average market price, and raised his total equity interest in FirstHoldCo to approximately 17.56 per cent.

The latest purchase underscores Otedola’s growing confidence in FirstHoldCo, the parent company of First Bank of Nigeria Limited, one of the country’s oldest and most systemically important financial institutions. It also marks another step in his steady accumulation of shares over the past year, during which he has emerged as one of the company’s largest shareholders.

Market analysts view the development as a strategic move aimed at reinforcing long-term value, especially as FirstHoldCo continues efforts to improve governance, strengthen its balance sheet, and enhance competitiveness in Nigeria’s evolving banking landscape.

Otedola’s increasing stake has attracted strong investor attention, with market participants interpreting the move as a positive signal about the group’s outlook. Shares of FirstHoldCo have remained actively traded amid heightened interest from institutional and high-net-worth investors.

FirstHoldCo has yet to issue additional comments beyond the regulatory disclosure, but the transaction further cements Otedola’s role as a key power broker within the company’s ownership structure. Visit www.jocomms.com for more news.