Otedola buys additional N1.77bn shares in FirstCo
Lagos, July 2026 – Femi Otedola, the Chairman of First Bank of Nigeria (FirstCo Plc), has purchased additional N1.77 billion shares in the group.
The shares were purchase through Calvados Global Services Limited, his special purpose vehicle.
The transactions, valued at N222.20 billion, were filled with the Nigerian Exchange (NGX) on Thursday.
The latest acquisition raises Otedola’s shareholding in First HoldCo from 9.99 billion shares to 11.77 billion shares.
It has also increased his stake from 21.96 per cent to 25.88 per cent.
Recall that Otedola, had in July 22, acquired 706.13 million shares valued at N77.58 billion in the group.
With the latest acquisition, Otedola has strengthened his position as the largest shareholder in the group.
