Business mogul, Femi Otedola, has increased his stakes in First HoldCo Plc, by acquiring additional 64,878,668 million shares valued at N2,011,238,708.
He is currently the Chairman of First Bank PLC.
FBN Holdings disclosed the acquisition in two separate documents as required by the post-listing requirement of the Nigerian Exchange Limited (NGX).
According to the documents, signed by Adewale L.O Arogundade, the Company Secretary, Otedola purchased 39,313,379 shares at N31 per share, valued at N1,218,714,749 on September 23, 2025.
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On the same day, Otedola acquired an additional 25,565,289 shares, valued at N792,523,959 through Calvados Global Services Limited.
Consequently, Otedola’s direct shareholding has increased to 3,251,346,245 units, representing 7.76 %, while his indirect holdings now stand at 3,491,125,586 units, representing 8.34%.
Otedola now holds a 16.1% stake in First HoldCo, compared to the 13.15% recorded in September 2024.
Otedola’s new stake holdings come almost three months after Oba Otudeko, the founder of Barbican Capital Limited and chairman of Honeywell Group, and Tunde Hassan-Odukale, group managing director of Leadway Assurance, sold over 10 billion shares held in First HoldCo.
