Femi Otedola has further increased his investment in First HoldCo Plc after buying 147.74 million additional shares valued at N20.7 billion.
The latest transaction was completed on August 14 at N140 per share through Calvados Global Services Limited, an investment company linked to the billionaire businessman.
The purchase is part of Otedola’s aggressive share accumulation in First HoldCo this year. With the latest acquisition included, his disclosed purchases in the financial services group in 2026 have risen to about N412 billion.
Otedola, who serves as chairman of First HoldCo, has been steadily increasing his stake in the company. He has previously indicated his intention to push his ownership above 51 per cent, a move that would give him majority control.
His buying activity has become particularly significant in recent months.
In May, Otedola acquired 549.54 million shares for approximately N43.41 billion. He continued the accumulation in June, purchasing 672.9 million shares worth about N29.6 billion through the company’s private placement programme.
The pace increased further in July. On July 22, he purchased 706.13 million shares for roughly N77.58 billion.
Later that month, Otedola completed his biggest disclosed purchase so far, acquiring 1.78 billion shares for approximately N222.21 billion.
He followed the major July transaction with another purchase of 138.04 million shares worth N18.11 billion in early August.
The latest N20.7 billion acquisition shows that his interest in First HoldCo remains strong, even after several major purchases this year.
Otedola’s growing stake has also come as First HoldCo’s share price has recorded a strong performance on the Nigerian Exchange. The company’s shares closed at N140 on August 17, after reaching an intraday high of N150 earlier in August.
The billionaire’s continued accumulation has therefore become an important development for investors monitoring the company.
For shareholders and market watchers, the major question is how far Otedola will go in increasing his ownership. His stated ambition of exceeding the 51 per cent threshold means further acquisitions could remain a major focus for the market.
The scale of his purchases also highlights the growing influence of major investors in Nigeria’s banking and financial services sector.
As Otedola continues to build his position, investors will be watching future regulatory filings and share transactions closely for signs of whether he is moving closer to majority ownership of First HoldCo.
The latest purchase reinforces one clear trend: Otedola is continuing to strengthen his position in one of Nigeria’s major financial services groups, with more than N400 billion already committed to disclosed share acquisitions in 2026.
