By Enemona Samuel Endurance
Olufemi Otedola, Chairman of First HoldCo Plc, has increased his ownership in the financial services group after acquiring additional shares worth approximately N43.41 billion.
The Business Bureau reports that the latest transaction further consolidates Otedola’s position as one of the most influential shareholders in the company.
Details of the Share Acquisition
The transaction was executed on the Nigerian Exchange (NGX) on May 13, 2026.
According to market data, Otedola purchased 549,535,653 ordinary shares at an average price of N79 per share.
The total value of the acquisition is estimated at N43.41 billion.
Following the purchase, Otedola’s shareholding in First HoldCo Plc rose from 8,055,314,486 shares, as disclosed in the company’s 2025 audited financial statements, to 8,604,850,139 shares.
Investor Interest Drives Trading Volume Higher
The announcement triggered strong investor interest in First HoldCo shares.
By mid-trading on the NGX, transaction volume had exceeded 563 million shares, reflecting
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