Otedola strengthens grip on First HoldCo with major share purchase
Billionaire investor Femi Otedola has expanded his influence in First HoldCo Plc through a significant insider transaction. Regulatory filings revealed a massive share acquisition by Calvados Global Services Limited, a company closely linked to Otedola. The purchase, valued at over N18 billion, marks one of the largest insider equity deals on the Nigerian Exchange this year. The move further cements Otedola’s position as the largest shareholder in the financial group.
TLDR
- On Thursday, August 6, 2026, Calvados Global Services Limited, tied to Femi Otedola, acquired 138,041,465 ordinary shares of First HoldCo Plc at N131.20 per share.
- The total value of the transaction was N18,111,040,208.00 (N18.11bn), making it one of the largest insider trades on the Nigerian Exchange this year.
- The transaction was officially disclosed to the market by the Group Company Secretary, Abiola Baruwa, on Friday, August 7, 2026.
- With this acquisition, Otedola’s beneficial shareholding in First HoldCo Plc rises to about 27.16 per cent.
- Otedola emphasized his long-term commitment to the company, stating his investment is focused on value creation rather than short-term gains.
