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Otedola Increases Stake in First HoldCo via ₦222.2 Billion Share Acquisition

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Calvados Global Services Limited, a company tied to billionaire investor and Board Chairman, Mr Olufemi Otedola, has acquired a stake in First HoldCo Plc valued at over ₦222.2 billion on the Nigerian Exchange Limited. According to an official Notification of Share Dealing by an Insider filed on Thursday, July 30,……

Calvados Global Services Limited, a company tied to billionaire investor and Board Chairman, Mr Olufemi Otedola, has acquired a stake in First HoldCo Plc valued at over ₦222.2 billion on the Nigerian Exchange Limited.

According to an official Notification of Share Dealing by an Insider filed on Thursday, July 30, 2026, on the exchange, the transaction involved the purchase of 1,779,094,976 ordinary shares. The shares were bought at a price of ₦124.90 per unit, bringing the total investment to approximately ₦222.208bn.

The transaction took place in Lagos on the Nigerian Exchange Limited, further consolidating the position of the significant shareholder within the financial holding company.

The filing, signed by the Group Company Secretary, Abiola Baruwa, identified Calvados Global Services Limited as a ‘Company Related to a Significant Shareholder – Mr Olufemi Otedola, CON’.

READ ALSO: Otedola Raises Stake in First HoldCo with N14.8bn Shares

TVC News Online reports that Otedola on Wednesday, July 22, 2026, bought N77.589bn worth of First HoldCo shares at N109.88 each.

This latest acquisition also comes months after Otedola acquired additional shares of First HoldCo Plc valued at approximately ₦43.41 billion. On June 30, a Non-Executive Director of First Bank of Nigeria Limited, Anil Dua, also acquired 1,300,000 units of First HoldCo shares at N58.7 each. The transaction was valued at N76.310m.

This high-volume purchase signals strong insider confidence in the future valuation and operational health of First HoldCo.

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