Femi Otedola, chairman of First HoldCo Plc, has expanded his shareholding in the company with the purchase of an additional 64.9 million units valued at N2.01 billion.
Regulatory filings by FBN Holdings on the Nigerian Exchange Limited (NGX), signed by Company Secretary Adewale Arogundade, confirmed the transactions executed on September 23, 2025.
According to the disclosure, Otedola acquired 39.3 million shares at N31 each, worth N1.21 billion. On the same day, he purchased a further 25.6 million shares valued at N792.5 million through Calvados Global Services Limited.
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With this development, his direct stake has increased to 3.25 billion units, representing 7.76 percent of the company, while his indirect holdings stand at 3.49 billion units, representing 8.34 percent.
Combined, Otedola now controls 16.1 percent of First HoldCo, a rise from 13.15 percent recorded in September 2024.
This latest acquisition comes three months after major disposals by Oba Otudeko, chairman of Honeywell Group, and Tunde Hassan-Odukale, managing director of Leadway Assurance, who jointly offloaded more than 10 billion shares in the holding company.
The NGX listing rules require companies to disclose such significant shareholding changes to maintain transparency in ownership structures.
