Otedola Acquires N222.21bn in First Holdco Shares

Olufemi Otedola, a billionaire investor and Chairman of First Holdco Plc, has acquired an additional N222.21 billion worth of shares in the company on the Nigerian Exchange Limited (NGX). This acquisition involved the purchase of 1,779,094,976 shares at a price of N124.90 per share.

Following this transaction, Otedola's total shareholding in First Holdco has increased to 11,956,589,264 shares, up from 10,177,494,288 shares. This makes him the largest shareholder of First Holdco Plc, which is recognized as the oldest financial institution in Nigeria.

Further details regarding the transaction are expected to be disclosed later.