Otedola Buys N77.6bn First HoldCo Shares, Raises Stake To 21.95%
Amina Garba
Femi Otedola has bought another large block of First HoldCo shares, raising his stake in the banking group to 21.95 per cent.
Premium Times reported that Otedola, the chair of First HoldCo Plc, acquired 706.1 million shares on Wednesday through Calvados Global Services Limited. The deals were valued at N77.6 billion.
Channels TV, citing a share dealing notice dated July 22, 2026, reported that Calvados bought 706,131,179 ordinary shares at N109.88 per share on the Nigerian Exchange.
The latest purchase leaves Otedola close to RC Investment, which Premium Times reported holds 22.94 per cent of the company. RC Investment became the trustee for a large block of shares previously linked to Oba Otudeko and Oye Hassan-Odukale.
Otedola has been building his position in First HoldCo since 2021. Premium Times reported that he added 672.9 million shares worth N29.6 billion in June, while Channels TV noted earlier purchases in 2025 and 2026.
Sources: Premium Times, Channels TV
Written by
Amina Garba
Financial reporter covering CBN policy, oil and gas, government budgets, and macroeconomic trends. Business Writer at NaijaTrend.
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