Nigerian billionaire Femi Otedola has acquired an additional N18bn in First HoldCo shares, increasing his stake to 27.16% and solidifying his control over the company.

First HoldCo has announced its intention to pay out 60% of its annual profit as dividends, a move that highlights the board's confidence in the company's earnings capacity, capital position, and robust outlook for sustained profitability.

Femi Otedola, Chairman of First HoldCo Plc, has increased his shareholding in the company to 21.96 percent by acquiring an additional 706.13 million shares valued at N77.58 billion.

Mr. Otedola acquired N29.6 billion worth of shares in First HoldCo through a private placement program, raising his total stake in the company to 20.4%.

First HoldCo Plc announced significant financial growth, with gross earnings reaching N3.4 trillion for the full year ended December 31, 2025. The company also sustained strong revenue momentum, increasing gross earnings to N942 billion in the first quarter of 2026.

Mr. Femi Otedola has acquired an additional 138 million shares in First HoldCo, valued at ₦18.1 billion, increasing his total holdings in the financial institution.

Femi Otedola has significantly increased his stake in FirstHoldco to 26% through a N222 billion share purchase. This substantial investment boosts his ownership in the company, making him a major shareholder.

Femi Otedola has purchased N77.6 billion worth of First HoldCo shares, bringing his stake close to 22% and nearly matching the largest shareholder, RC Investment.

First HoldCo Plc, Nigeria's largest lender, plans to raise approximately $1 billion through a share sale after receiving approval from the Central Bank of Nigeria.

Femi Otedola has acquired an additional 1.78 billion First HoldCo shares, increasing his stake in the company to 25.86%. This new purchase represents 3.91 percent of the company's outstanding shares.

Nigerian billionaire Femi Otedola has raised his stake in First HoldCo to 21.96% through a N77.6 billion share purchase, increasing his control from 9.28 billion to 9.99 billion shares.

Femi Otedola, through his special purpose acquisition company Calvados Global Services Limited, acquired 549.5 million shares in First HoldCo for N43.4 billion, with each unit priced at N79.