Otedola Boosts Stake in First HoldCo with N1.21 Billion Acquisition

First HoldCo Plc disclosed that its Group Chairman, Mr. Olufemi Otedola, significantly increased his stake in the company by acquiring direct shares worth N1.21 billion.

The transaction, executed in Lagos on September 23, 2025, saw Otedola purchase units at N31 per share. This acquisition led to a rise in Otedola's direct shareholding and indirect stake in the company.

The move generated significant activity on the Nigerian Exchange (NGX), with a surge in daily trading volumes. Otedola's increased investment has positively impacted First HoldCo's stock performance, which has been on a mildly bullish run in 2025.