Femi Otedola, Chairman of First HoldCo, has significantly increased his ownership in the longest-standing financial institution on the Nigerian Exchange (NGX) by acquiring 39,313,379 shares for ₦1.21 billion.
According to NGX data, First HoldCo experienced a 0.48% decline during intraday trading, reflecting cautious investor sentiment.
A regulatory filing submitted to the NGX on Thursday disclosed that the transaction, priced at ₦31 per share, occurred in Lagos on September 23, 2025, under the transaction code NGFBNH000009.
Anchoria Securities Limited reported multiple trades involving 40 million shares, with prices ranging between ₦30.65 and ₦31.00, totalling ₦1.24 billion in value.
The company’s Q2 2025 financial statement, published on July 30, 2025, indicated Otedola’s prior direct holding of 3,212,032,866 shares (7.67% of total shares) and an indirect holding of 3,465,560,297 shares (8.28% of outstanding shares).
Additionally, Calvados Global Services Limited, an entity linked to Otedola, purchased 25,565,289 shares for ₦792.5 million at the same price and transaction code.
Otedola’s direct ownership has now risen to 3,251,346,245 shares, representing 7.77% of First HoldCo’s shares, while his indirect holdings have increased to 3,491,125,586 shares, or 8.34% of the company’s outstanding shares.
