Femi Otedola Plans Surprises in Rebuilding First HoldCo PLC Amid Financial Challenges

Femi Otedola, the Chairman of First HoldCo PLC, has indicated that the rebuilding and restructuring of the financial services group will involve significant disruptions but will bring surprises. Otedola emphasized the need to reset and strengthen the institution to deliver long-term value to stakeholders.

The transformation process aims to establish a new foundation for sustainable growth. The statement comes in response to the company's 2025 financial performance, which showed a sharp decline in profits, causing concerns among investors.

Otedola highlighted that the current phase is essential for the company's future and aligns with regulatory guidance and industry evolution. Notably, Otedola increased his direct and indirect shareholdings in the company, reinforcing his commitment as the largest shareholder.

The strategic moves are part of a deliberate strategy to address operational weaknesses and position the company for long-term success.