Femi Otedola tightens his hold on First Holdco with additional N1.21bn shares purchase

First HoldCo Chairman Femi Otedola, has increased his stake in the oldest financial institution listed on the Nigerian Exchange (NGX), purchased 39,313,379 units valued at ₦1.21 billion. Data from the Nigerian Exchange shows First Holdco is trading negatively during intraday session, down by 48 basis points due to negative investors’ sentiment. In a regulatory disclosure, First Holdco told the Nigerian Exchange on Thursday that the new transaction, at a share price of ₦31 per unit, was executed in Lagos on September 23, 2025, under the identification code NGFBNH000009. Anchoria Securities Limited revealed that several transactions involving 40 million shares were executed at ₦30.65 – ₦31.00 per share, amounting to a trade value of ₦1.24 billion yesterday.
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, which is 7.67% of the total company shares, and an indirect stake of 3,465,560,297 units, equivalent to 8.28% of First Holdco. outstanding shares in the market. Added to his newly acquired stakes, Calvados Global Services Limited, a company related to Otedola, also acquired 25,565,289 ordinary shares worth ₦792.5 million at the same price and with the same transaction code. His direct shareholding has now risen to 3,251,346,245 units, accounting for 7.77% of the group shares outstanding following the latest acquisitions. First Holdco chairman’s indirect holdings now stand at 3,491,125,586 units, accounting for 8.34% of the group’s outstanding shares.