The chairman of First Holdco Plc, Mr Femi Otedola, has increased his stake in the financial services firm t0 16.1 per cent from the 13.15 per cent it was in September 2024.
He recently acquired additional shares of the company in two tranches, First Holdco confirmed in two separate notices to the Nigerian Exchange (NGX) Limited.
On Tuesday, September 23, 2025, the billionaire businessman acquired about 39,313,379 shares of the organisation at a unit price of N31 and on the same day, he further bought 25,565,289 units at N31 per share through Calvados Global Services Limited, a company linked to him.
The acquisition of the fresh 64,878,668 shares valued at N2,011,238,708 further cements his grip position as the single largest shareholder of First Holdco, which has the iconic banking institution, First Bank, as its subsidiary.
Business Post reports that the direct shareholding of Mr Otedola at First Holdco is now 3,251,346,245 units, representing 7.76 per cent, while his indirect holdings now stand at 3,491,125,586 units, representing 8.34 per cent.
Apart from First Holdco, the business mogul also has interests in the power sector through Geregu Power, another firm listed on the domestic stock exchange.
He sold his stake in Ardova Plc to invest in the power generating company.
He recently launched a book titled Making It Big: Lessons From A Life In Business. The piece of work charts his ambition, hard work, successes, challenges and setbacks – from making a billion, to losing a billion to making it back again and, as one of Africa’s richest men, settling into a philanthropic role to give back to the continent.