By Ayomide Otitoju
Billionaire businessman and Chairman of First HoldCo Plc, Femi Otedola, has further increased his investment in the financial services group after a related company acquired 1.77 billion ordinary shares valued at ₦222.21 billion in a single transaction on the Nigerian Exchange (NGX).
According to a share dealing notification dated July 30, 2026, Calvados Global Services Limited, a company linked 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 Otedola purchased 706.13 million ordinary shares worth ₦77.59 billion in another major transaction on the NGX.
The businessman has steadily increased his stake in First HoldCo over the past year. In May 2025, he acquired 549,535,653 shares valued at about ₦43.41 billion at an average price of ₦79 per share.
He also expanded his holdings in September 2025 with the purchase of 39.31 million shares worth approximately ₦1.21 billion.
Otedola, one of Nigeria’s leading investors, was appointed Chairman of First HoldCo Plc in October 2024.
In May 2026, he announced plans to invest proceeds from his $100 million Geregu Power Plc stake into the Dangote Petroleum Refinery project.
Earlier this year, Forbes listed Otedola among Africa’s billionaires alongside Aliko Dangote, Abdulsamad Rabiu, and Mike Adenuga, recognising his growing influence in Nigeria’s business and investment landscape.
