Billionaire investor Femi Otedola has strengthened his position in First HoldCo Plc after adding 147.74 million units of the company’s shares in a deal worth N20.7 billion.
The transaction took place on August 14, with each share purchased at N140. Calvados Global Services Limited, an investment firm linked to Otedola, carried out the acquisition.
The latest deal pushes the value of his publicly reported investments in First HoldCo during 2026 to approximately N412 billion.
Otedola, who currently serves as chairman of the financial group, has repeatedly increased his exposure to the company. He has also disclosed his intention to take his stake above the 51 per cent threshold.
His purchases gathered momentum from May, when he secured 549.54 million shares for roughly N43.41 billion. A further 672.9 million units, valued at N29.6 billion, were obtained in June through First HoldCo’s private placement.
The pace increased in July. On July 22, Otedola acquired 706.13 million shares at a total cost of about N77.58 billion.
He followed that transaction with his biggest reported purchase of the year, taking up 1.78 billion shares for approximately N222.21 billion later in July.
Another 138.04 million shares were added to his portfolio in early August for N18.11 billion.
The series of transactions, including the latest August purchase, puts his disclosed investment in First HoldCo this year at around N412 billion.
Otedola’s buying spree has coincided with a notable rise in the company’s market value. First HoldCo’s stock ended trading at N140 on August 17 after climbing as high as N150 during the month.
His growing interest in the group remains a major point of attention within the investment community, particularly because of his stated goal of securing more than half of the company’s ownership.
