Femi Otedola has further consolidated his controlling position in First HoldCo Plc through an insider transaction valued at approximately N18 billion.
The Nigerian billionaire and group chairman acquired an additional 138 million shares in the financial services conglomerate, marking the latest step in his aggressive accumulation of equity in the firm.
87%. The new acquisition reinforces his dominance as the primary shareholder and underscores his long-term commitment to the group’s strategic direction.
This latest tranche adds to Otedola’s already substantial stake in the company.
Previous transactions, including a N222.2 billion purchase reported earlier, had already raised his ownership to 25.87%.
The new acquisition reinforces his dominance as the primary shareholder and underscores his long-term commitment to the group’s strategic direction.
The move highlights the ongoing concentration of ownership within First HoldCo, a key player in Nigeria’s financial sector.