Femi Otedola has increased his stake in First HoldCo Plc to 17.56 per cent after a ₦14.8 billion share purchase through a linked company.
A disclosure on the Nigerian Exchange shows that Calvados Global Services Limited, owned by Otedola, acquired 369.99 million shares of First HoldCo at ₦40.06 per share on December 18, 2025. The transaction lifted daily trading volume to 385.6 million shares, reflecting heightened investor activity in the stock.
Following the deal, Otedola’s indirect holdings are expected to rise to about 9.22 per cent, bringing his combined direct and indirect ownership to 17.56 per cent and cementing his position as one of the group’s most influential shareholders.
The purchase adds to Otedola’s steady accumulation of First HoldCo shares over the past two years and comes amid broader shifts within the bank, including tighter credit controls and more aggressive loan recovery efforts.
The stake increase also coincides with Nigeria’s banking sector recapitalisation drive ahead of the Central Bank’s early-2026 deadline. First HoldCo is understood to be close to completing a private placement as part of its capital-raising plans.
Investors have responded positively. First HoldCo shares are up 29 per cent in December and trade at about ₦42.65, rebounding sharply from a November low of ₦31.05 as insider buying and recapitalisation expectations fuel demand.
