Billionaire investor and Chairman of First Bank Holdings Plc (First HoldCo), Femi Otedola, has expanded his shareholding in the company with the purchase of 39,313,379 additional units, valued at approximately ₦1.21 billion.
Fresh regulatory filings on the Nigerian Exchange (NGX) disclosed that the transaction was completed in Lagos on September 23, 2025, at ₦31 per share, under the trading identification code NGFBNH000009.
Despite the acquisition, First HoldCo’s stock recorded a mild downturn during intraday trading, shedding 48 basis points as negative investor sentiment weighed on performance.
Anchoria Securities Limited confirmed that about 40 million shares exchanged hands within a price range of ₦30.65 – ₦31.00, with total value estimated at ₦1.24 billion.
Prior to this transaction, Otedola’s direct ownership stood at 3,212,032,866 shares (7.67%), alongside an indirect stake of 3,465,560,297 shares (8.28%). With the latest acquisition, his direct holdings have risen to 3,251,346,245 shares, representing 7.77% of outstanding shares.
Additionally, Calvados Global Services Limited, a company affiliated with Otedola, secured 25,565,289 shares worth ₦792.5 million under the same deal. This raised his indirect stake to 3,491,125,586 shares, which now accounts for 8.34% of First HoldCo’s outstanding shares.
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