The Chairman of First HoldCo Plc, Mr Femi Otedola, maintained his grip on the company, acquiring additional shares valued at approximately N43.41 billion.
The transaction was disclosed in a regulatory filing submitted to the Nigerian Exchange (NGX) Limited and signed by the company secretary, Mrs Abiola Baruwa.
The acquisition, executed on the stock exchange on May 13, 2026, involved the purchase of 549,535,653 shares at an average price of N79 per share.
Following the latest purchase, Mr Otedola’s stake in First HoldCo Plc has climbed from 8,055,314,486 units reported in the FY 2025 audited accounts to 8,604,850,139.
The Nigerian billionaire’s total stake has now climbed to 19.36 per cent in his biggest single purchase since becoming chairman in January 2024.
On September 25, 2025, he increased his interest in First HoldCo with the purchase of 64.87 million shares valued at N2.01 billion.
Of this amount, 39.3 million shares were acquired directly on September 23 for about N1.2 billion, while an additional 25.6 million shares worth N793.6 million were bought indirectly through Calvados Global Services Limited on the same day.
Those earlier transactions raised his shareholding to 16.1 per cent, from the 13.15 per cent stake recorded in September 2024.
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.