Otedola Raises First HoldCo Stake by ₦43.4bn in Strategic Share Purchase

On May 13, 2026, Olufemi Otedola acquired 549.5 million shares of First HoldCo Plc on the Nigerian Exchange at an average price of ₦79 each. The deal cost about ₦43.41 billion and boosted his ownership in the financial services group. This purchase increased his holding from 8.06 billion shares to 8.60 billion, based on the company’s 2025 audited figures. The announcement propelled trading volumes above 563 million shares and pushed the stock’s year-to-date return past 57%. Analysts say the move underscores strong confidence in First HoldCo’s growth outlook and may influence the firm’s governance and strategic direction. Investors are watching closely for further developments.

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