Group Chairman, First HoldCo Plc, Olufemi Otedola, has increased his stake in the company with the purchase of 39,313,379 units valued at N1.21 billion.

According to the company’s second-quarter financials released on July 30, 2025, Otedola previously held a direct stake of 3,212,032,866 units (7.67%) and an indirect stake of 3,465,560,297 units (8.28%).

A disclosure published by the company on the Nigerian Exchange (NGX) on Thursday, revealed that the new transaction, at a share price of N31 per unit, was executed in Lagos on September 23, 2025, under the identification code NGFBNH000009.

Added to his newly acquired stakes, Calvados Global Services Limited, a company related to Otedola, also acquired 25,565,289 ordinary shares worth N792.5 million at the same price and with the same transaction code.

His direct shareholding has now risen to 3,251,346,245 units (7.77%) following the latest acquisitions, while his indirect holdings now stand at 3,491,125,586 units (8.34%). (Channels TV)