Special Report
Femi Otedola acquires additional N222bn shares in First HoldCo
Femi Otedola, chairman of First HoldCo, has acquired an additional 1.77 billion shares in the financial institution through his investment vehicle, Calvados Global Services Limited.
According to a statement from the Nigerian Exchange (NGX), the shares were purchased on Thursday at a total value of N222.20 billion.
The latest acquisition increased Otedola’s total shareholding from 9.99 billion shares to 11.77 billion shares. Consequently, his stake in the company rose from 21.96 percent to 25.88 percent, bringing him closer to the regulatory threshold that could trigger a mandatory takeover offer.
This marks Otedola’s second major share purchase in July, following an earlier acquisition of 706.13 million shares valued at N77.58 billion on July 22.
With these investments, Otedola’s total stake in First HoldCo is now valued at approximately N1.47 trillion, making him the largest single investor in the financial institution.
Under the Investments and Securities Act, as well as the Securities and Exchange Commission (SEC) regulations on mergers and acquisitions, any shareholder who acquires 30 percent or more of the voting shares in a public company is required to make a mandatory takeover offer to other shareholders.
The development comes shortly after First HoldCo surpassed Zenith Bank to emerge as Nigeria’s most valuable banking stock on the Nigerian Exchange, driven by a sustained rally in its share price.
“Military Intelligence Officer Col. Abdussalam Ude Killed While Resisting Abduction At Abuja Home” — Wife, Driver, Guard Injured
RSS Makes History as Graduating Class of 2026 Marks Valedictory Service in First-of-Its-Kind University-Style Ceremony
“I hope say dey never collect my glory” – Peller calls out man who allegedly promised him 10 cows at Soso Soberekon’s wedding
Is Tinubu Going For Boxing Or 100 Metres? – APC Chairman, Yilwatda Slams Peter Obi Over ‘Tired’ Remark
“Please Don’t Attend!” — Kantanka Family Disowns Adwoa Safo’s July 30 Burial, Warns Public To Stay Away
“That Man Slapped Me Twice and Called Me Bad Names And Gave Me Naira 45M,” Sad as Abuja Woman Reveals How a Top Politician Allegedly Lured Her to a Lodging With an iPhone and Left Her Pregnant
Dollar to Naira Exchange Rate Today, July 29, 2026: Nigerian Naira records third consecutive depreciation
Taraba Lawmaker Calls On State Government To Accord Priority, Funding To Hepatitis Treatment As HIV/AIDS
EXCLUSIVE: Police Indict Unity Bank Cooperative Officials in ₦85 Million Fraud Investigation – Secrets Reporters Nigeria
“I opened an account”- Nigerian lady who relocated to Canada displays account balance, amount sparks buzz
Ukraine under heavy Russian attack while Poland examines possible incursion
United Capital’s Targets ₦2 Trillion Asset Mark by 2026 FY
Macao’s first national security case raises concerns over fairness a year after arrest
Proposed Cooperative Bank – The Trumpet Newspaper Nigeria
Amusan Blazes Into Commonwealth Games 100m Hurdles Final With Historic Heat Run
NPFL: Lekan Gabriel seals move to Bendel Insurance
Voters in Manchester choose a mayor to replace Andy Burnham, who left city hall for Downing Street
Lagos Seals Warehouses Over Waste Dumping Violations
NNL: Abakaliki FC boss charges trialists to give best in training
Russian missile and drone strikes across Ukraine kill at least 8 civilians and wound dozens
Headlines17 hours ago“That Man Slapped Me Twice and Called Me Bad Names And Gave Me Naira 45M,” Sad as Abuja Woman Reveals How a Top Politician Allegedly Lured Her to a Lodging With an iPhone and Left Her Pregnant
- Headlines16 hours ago
Dollar to Naira Exchange Rate Today, July 29, 2026: Nigerian Naira records third consecutive depreciation
- Entertainment20 hours ago
“I opened an account”- Nigerian lady who relocated to Canada displays account balance, amount sparks buzz
- Metro22 hours ago
“FG Unveils Seven Locally Developed Herbal Products” — NNMDA Targets Cancer, Hepatitis B, Hypertension
- Entertainment24 hours ago
Odogwu Asaba: “She is hungry”- Late Favour’s twin explains why she brought bread, sardine to her grave
- News22 hours ago
NACAT Unveils ‘Breaking the Chains’ Initiative, Premieres Innocence for Sale Documentary to Strengthen Fight Against Human Trafficking – Secrets Reporters Nigeria
- Politics18 hours ago
You Can’t Hide Behind ‘Technocrat’ Titles To Avoid Political Responsibilities – Yilwatda Warns Political Appointees
- Special Report16 hours ago
He Made His Best Friend Nico Williams Chop Me And Later Blocked Me — Lamine Yamal’s Ex-Girlfriend Nicole Explains Reason Behind Her Breakup With The Barcelona Star
