Femi Otedola Secures First HoldCo Shares Worth Over N43bn
Billionaire investor raises stake in First HoldCo to 8.60 billion shares in a single-day transaction on the Nigerian Exchange
Billionaire businessman Femi Otedola has significantly expanded his ownership in First HoldCo, acquiring 549.5 million shares worth approximately N43.41 billion on the Nigerian Exchange on Wednesday, May 13, 2026.
The shares were purchased at an average price of N79 each, bringing Otedola’s total stake in the financial holding company from 8.06 billion shares to 8.60 billion shares, further consolidating his position as a major shareholder.
The acquisition triggered a surge in investor activity, pushing the day’s trading volume above 563 million shares as market participants reacted to the high-profile transaction.
The development has also bolstered confidence in the stock, with First HoldCo’s year-to-date return climbing beyond 57 percent, signaling strong market performance since the start of the year.
Otedola’s latest move reinforces his reputation as one of Nigeria’s most aggressive and strategic investors, with a track record of taking significant positions in major Nigerian corporations.
The transaction was executed on the Nigerian Exchange, the country’s primary stock market, where shares of publicly listed companies are bought and sold by institutional and retail investors alike.
