WorldStage– Billionaire businessman and Chairman of First HoldCo Plc, Mr. Olufemi Otedola, CON, has further consolidated his position as the dominant shareholder in the financial services group following a fresh share acquisition valued at approximately ₦20.68 billion.
According to an official notification of insider dealing filed with the Nigerian Exchange Limited (NGX) on August 17, 2026, the transaction was executed through Calvados Global Services Limited, an entity related to Mr. Otedola.
Key Details of the Transaction
Purchasing Entity: Calvados Global Services Limited (Company related to Significant Shareholder, Mr. Olufemi Otedola, CON)
Issuer: First HoldCo Plc, (ISIN: NGFBNH000009)
Transaction Date: August 14, 2026
Volume Acquired: 147,737,699 ordinary shares
Execution Price: ₦140 per share
Total Transaction Value: ₦20,683,277,860
Venue: Nigerian Exchange Limited, Lagos
Signatory: Abiola Baruwa, Group Company Secretary
Market Context and Ownership Expansion
This latest deal represents the second major share purchase by Mr. Otedola in August alone, following an earlier acquisition of 138.04 million shares valued at ₦18.11 billion. It also comes on the heels of a massive purchase of 1.78 billion shares executed in late July.
The acquisition adds approximately 0.33% to Mr. Otedola’s total holdings, bringing his overall stake in First HoldCo to roughly 27.5% of the company’s issued share capital.
The aggressive share accumulation aligns with Otedola’s stated long-term investment strategy of maintaining substantial shareholder control to drive structural reforms across the institution.
