Billionaire businessman Femi Otedola has further increased his investment in First HoldCo Plc after a company linked to him acquired 1.779 billion ordinary shares worth ₦222.21 billion in a single transaction on the Nigerian Exchange (NGX).
A share dealing notice dated July 30, 2026, showed that Calvados Global Services Limited, a company associated with Otedola, purchased 1,779,094,976 ordinary shares of First HoldCo at ₦124.90 per share, bringing the value of the transaction to ₦222,208,962,502.40.
Otedola, who serves as Chairman of First HoldCo Plc, has steadily increased his stake in the financial services group over the past year.
The latest acquisition comes just eight days after a related entity purchased 706.13 million ordinary shares valued at ₦77.59 billion in another block transaction on the NGX.
Earlier, in May 2025, Otedola acquired an additional 549,535,653 shares worth approximately ₦43.41 billion at an average price of ₦79 per share.
He further strengthened his position in September 2025 with the purchase of 39,313,379 shares valued at about ₦1.21 billion.
One of Nigeria’s leading investors, Otedola was appointed Chairman of First HoldCo Plc in October 2024.
Beyond the banking sector, the billionaire has continued to expand his investments. In May 2026, he announced plans to invest proceeds from the sale of his $100 million stake in Geregu Power Plc into the Dangote Refinery.
In March 2026, Forbes ranked Otedola among Africa’s billionaires, alongside Aliko Dangote, Chairman of Dangote Group; Abdulsamad Rabiu, Chairman of BUA Group; and Globacom founder Mike Adenuga.
