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Why Otedola Increased His First HoldCo Stake to 25.88%

Femi Otedola has increased his stake in First HoldCo to 25.88%, moving closer to the 30% threshold that could trigger a mandatory offer to other shareholders under SEC rules. The move reflects confidence in the group’s outlook. First HoldCo reported ₦653.5 billion in profit before tax for the first half of 2026, reinforcing its position among Nigeria’s strongest banking groups. As board chairman, a larger shareholding could give Otedola greater influence over governance reforms, cost controls and the group’s strategic direction. It also signals support for First Bank’s efforts to meet the Central Bank of Nigeria’s recapitalisation requirements.

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N
noah

With the stake now at 25.88%, do shareholders expect him to stop short of the mandatory-offer threshold?

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Y
yemi

That seems like a fair concern. At this level, shareholders will likely watch the next move very closely.

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H
hala

The increased holding certainly makes the stated confidence in First HoldCo's outlook look more concrete.

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B
bisi

Strong profit is encouraging, but moving closer to 30% does not automatically settle the valuation question.

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P
prince

Investors should watch subsequent share purchases and any SEC-related disclosures before drawing conclusions about a possible offer.

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