Femi Otedola has acquired an additional 147.74 million shares in First HoldCo Plc for N20.7 billion, further increasing his stake in the financial services group.
The transaction was executed on August 14 at N140 per share through Calvados Global Services Limited, an investment vehicle linked to the billionaire businessman.
The latest purchase brings the disclosed value of Otedola’s First HoldCo share acquisitions in 2026 to about N412 billion, reinforcing his push to increase his ownership of the group.
Otedola, who serves as chairman of First HoldCo, has previously indicated plans to raise his stake above 51 per cent.
His buying spree has intensified since May. He acquired 549.54 million shares for N43.41 billion in May and another 672.9 million shares valued at N29.6 billion in June through the company’s private placement.
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In July, he bought 706.13 million shares for N77.58 billion, then made his largest disclosed purchase later that month, acquiring 1.78 billion shares for about N222.21 billion.
He also purchased 138.04 million shares worth N18.11 billion in early August.
The latest acquisition comes as First HoldCo’s share price continues to perform strongly. The stock closed at N140 on August 17 after reaching an intraday high of N150 earlier in the month.
Otedola’s continued accumulation has drawn attention from investors, particularly given his stated ambition to achieve majority ownership.
If he reaches the 51 per cent threshold, his increased stake could significantly strengthen his influence over the strategic direction of First HoldCo.
Investors will now be watching closely to see whether Otedola continues his aggressive buying and how far his stake moves towards majority ownership.
