Billionaire businessman and Chairman of First HoldCo Plc, Femi Otedola, has further increased his investment in the financial institution after a related company acquired 1.77 billion ordinary shares valued at ₦222.21 billion in a single transaction on the Nigerian Exchange (NGX).
A share dealing notification dated July 30, 2026, showed that Calvados Global Services Limited, a company related to Otedola, purchased 1,779,094,976 ordinary shares at ₦124.90 per share on the Nigerian Exchange Limited.
The latest acquisition comes just eight days after the businessman bought 706.13 million ordinary shares worth ₦77.59 billion in another single transaction on the NGX.
It also follows an earlier investment made in May 2025, when Otedola acquired additional First HoldCo shares valued at approximately ₦43.41 billion through the purchase of 549,535,653 shares at an average price of ₦79 per share.
In September 2025, he further increased his stake in the company by acquiring 39,313,379 shares worth about ₦1.21 billion.
Otedola, one of Nigeria’s leading investors, became Chairman of First HoldCo Plc in October 2024.
In May 2026, he announced plans to invest his $100 million stake in Geregu Power Plc into the Dangote Refinery.
Earlier in March 2026, Forbes ranked Otedola among Africa’s billionaires, alongside Dangote Group founder Aliko Dangote, BUA Group Chairman Abdulsamad Rabiu and Globacom founder Mike Adenuga.
