Femi Otedola, the Chairman of First HoldCo, has expanded his interest in the parent company of First Bank by acquiring an additional 1.779 billion shares. This transaction is valued at N222.209 billion.
Abiola Baruwa, the company secretary, confirmed the deal in a formal notice sent to the Nigerian Exchange Limited. The shares were purchased at a unit price of N124.90 via Calvados Global Services Limited, which serves as Otedola’s investment firm.
This latest move brings Otedola’s total shareholding in the institution from 11.77 billion shares up from the previous 9.99 billion. Consequently, his total stake has risen from 21.96 percent to approximately 26 percent. This follows an earlier purchase made on July 22, 2026, where he acquired 706.13 million shares for N77.58 billion. Otedola now holds the largest investment in the financial group, with his total interest valued at N1.47 trillion.
