Billionaire investor, Femi Otedola has further increased his ownership in FirstHoldCo Plc, the parent company of First Bank of Nigeria, following the acquisition of additional shares worth N14.8 billion.

The latest transaction, disclosed in a notice signed by Group Company Secretary, Abiola Baruwa and filed with the Nigerian Exchange Group (NGX) on Thursday, pushed Otedola’s stake in the financial holding company to over 17 percent.

According to the filing, the shares were purchased through Calvados Global Services Limited, an investment vehicle associated with Otedola. The notice revealed that 369,986,122 shares were acquired on December 18 at N40.06 per share.

This purchase is the most recent in a series of acquisitions by the businessman. On September 25, 2025, Otedola expanded his holding with the purchase of 64.87 million shares valued at N2.01 billion.

At the time, FirstHoldCo disclosed that Otedola bought 39.3 million shares directly on September 23, worth about N1.2 billion, and another 25.6 million shares indirectly through Calvados, valued at N793.6 million.

Those transactions increased his stake to 16.1 percent from 13.15 percent recorded in September 2024.