By Ghazali Ibrahim
Chairman of First HoldCo Plc, femi Otedola, has increased his stake in the financial services group following a fresh acquisition of shares worth about N43.41 billion.
The transaction, carried out on the Nigerian Exchange Limited, NGX, on May 13, 2026, involved the purchase of 549,535,653 shares at an average price of N79 per share.
The latest move raises Otedola’s total shareholding in First HoldCo from 8,055,314,486 units, as contained in the company’s 2025 audited financial statement, to 8,604,850,139 shares.
The acquisition further consolidates the billionaire businessman’s influence in the company amid growing investor confidence in the stock.
Market activity around First HoldCo also surged significantly on Wednesday, with trading volume exceeding 563 million shares during mid-session trading.
The renewed buying interest pushed the company’s year-to-date return above 57 per cent, making it one of the notable gainers on the NGX in recent months.
