Otedola lifts FirstHoldCo stake to 21.96% with fresh N77.58B buy

What's the deal? Femi OtedolaDealroom has a profile for this one. Try Dealroom →, chairman of Nigeria's First HoldCo, has raised his stake in the financial institution to 21.96% after acquiring 706.13 million shares in a N77.58 billion transaction. The purchase, made through his investment vehicle Calvados Global ServicesDealroom has a profile for this one. Try Dealroom → Limited, lifted his holding from 20.42%.

By the numbers: Otedola now holds 9.99 billion shares, up from 9.28 billion. His total stake is valued at N1.04 trillion — nearly double the N566.43 billion his shares were worth on June 18, 2026.

Why now? The move follows a steady accumulation. In June 2026, Otedola bought 680 million shares through a private placement for N29.6 billion.

The signal: Otedola's push toward a N1 trillion position underscores growing concentration of ownership among Nigeria's high-profile investors in the country's banking sector.

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Image credit: Ken Lund