Nigerian Billionaire Femi Otedola Acquires N2 Billion Shares in FirstHoldCo, Boosting Stake in First Bank Nigeria

Nigerian billionaire Femi Otedola has raised his equity stake in FirstHoldCo, the parent company of First Bank Nigeria Limited, by purchasing additional N2 billion shares. This recent deal saw Otedola acquire over 39 million shares at N31 per share, totaling N1.21 billion.

The transaction involved off-market deals worth N323.45 billion and included the sale of 10.4 billion shares. Otedola's direct shareholding has now reached 7.77%, with his indirect holdings standing at 8.34%.

The move is part of a strategic investment plan, with plans for a complete capital raise in the second half of 2025.