Billionaire businessman and chairman of First HoldCo Plc, Olufemi Otedola, has increased his stake in the company after acquiring shares worth more than N43 billion.
The latest transaction, carried out on the Nigerian Exchange on May 13, 2026, involved the purchase of 549.5 million shares at an average price of N79 per share.
Following the acquisition, Otedola’s total shareholding in First HoldCo rose from over 8.05 billion shares, as recorded in the company’s 2025 audited financial statement, to about 8.6 billion shares.
The move further strengthens his influence within the financial institution and comes amid growing investor confidence in the company.
Trading activity in First HoldCo shares also surged significantly after the purchase, with more than 563 million shares exchanged during mid-trading
The company’s stock has now recorded a year-to-date gain of over 57 per cent, reflecting renewed market interest and strong investor sentiment around the banking group.
