Chairman of First HoldCo, the parent company of First Bank, Femi Otedola, has acquired an additional 1.779 billion shares in the company valued at N222.209 billion.
The transaction was disclosed in a statement filed with the Nigerian Exchange Limited (NGX) and signed by the company secretary, Abiola Baruwa.
According to the disclosure, the shares were purchased through Otedola’s investment vehicle, Calvados Global Services Limited.
The filing showed that Otedola bought 1,779,094,976 ordinary shares at N124.90 per share.
Following the acquisition, his direct shareholding in First HoldCo increased from 9.99 billion shares to 11.77 billion shares.
When his indirect holdings are included, Otedola’s total stake in the financial group rose from 21.96 percent to about 26 percent.
The latest purchase is the second major acquisition by Otedola in July 2026. On July 22, 2026, he acquired 706.13 million shares worth N77.58 billion.
With the new transaction, the value of Otedola’s investment in First HoldCo stood at approximately N1.47 trillion as of July 31, 2026, making him the largest investor in the financial institution.
