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Article

Olufemi Otedola has increased his stake in First HoldCo to over 26% following a N20.68 billion share acquisition.

Investors King Aug 18, 2026
Read the original Article page

TL;DR

Calvados Global Services Limited, linked to Chairman Olufemi Otedola, purchased 147.74 million First HoldCo shares at N140 each on August 14, 2026.

The latest N20.68 billion transaction boosts Otedola's total estimated beneficial stake in the financial services group to 26.17%.

Intelligence

Over three transactions since late July 2026, the Otedola-linked entity has invested approximately N320.5 billion to buy 2.63 billion shares.

Otedola's aggressive N320.5 billion share consolidation signals strong long-term confidence in First HoldCo despite rising share costs, which jumped 27.4% in less than a month.

This ongoing accumulation will likely drive increased trading volume and retail investor confidence on the Nigerian Exchange over the second half of 2026.

Furthermore, it firmly cements Otedola's direct control over the strategic direction of FirstBank's parent group.

Funding extracted from this article

3
First HoldCo Plc Acquisition · N20.68 billion
First HoldCo Plc Acquisition · N222.2 billion
First HoldCo Plc Acquisition · N77.6 billion

Regulatory activity extracted

1
Nigerian Exchange Compliance requirement

Tenders extracted

0

No tenders were extracted from this article.

Further reading

More on the companies named in this article.

Companies named

4

People named

2

Elsewhere on these companies

Other recorded activity involving the same companies.