Chairman of First HoldCo Plc, Femi Otedola, has expanded his ownership stake in the company following a massive share acquisition valued at about N43.41 billion.
The latest transaction was carried out on the Nigerian Exchange on May 13, 2026, where Otedola purchased 549,535,653 shares at an average price of N79 per share.
With this new First HoldCo shares acquisition, Otedola’s total stake in the company has increased from 8.06 billion shares, as recorded in the group’s 2025 audited financial report, to approximately 8.60 billion shares.
The development has triggered significant activity in the stock market, as investors continue to show strong interest in First HoldCo Plc. Trading volume reportedly surged above 563 million shares during mid-trading on the Nigerian Exchange.
Market analysts say the latest move by Femi Otedola reflects growing confidence in the future of the financial institution and could further strengthen investor sentiment around the company’s stock.
The stock has also witnessed impressive growth in 2026, with its year-to-date return reportedly rising beyond 57 percent amid increased market demand.
Femi Otedola, one of Nigeria’s most influential business figures, has continued to play a major role in the banking and energy sectors through strategic investments and corporate leadership.
The latest First HoldCo shares acquisition has already generated reactions within the financial market, with investors closely monitoring the company’s next moves and future performance.
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