Billionaire businessman Femi Otedola has further increased his investment in First HoldCo Plc after a company linked to him acquired 1.77 billion ordinary shares valued at N222.2 billion in a major transaction on the Nigerian Exchange Limited (NGX).
A share dealing notification dated July 30, 2026, showed that Calvados Global Services Limited, a company associated with Otedola, purchased 1,779,094,976 shares at N124.90 per unit.
The latest acquisition added to a series of share purchases by the businessman, who serves as chairman of First HoldCo Plc.
Eight days before the latest transaction, Otedola acquired 706.13 million ordinary shares worth N77.59 billion through another deal on the NGX.
The investment followed previous purchases, including a N43.41 billion acquisition in May 2025 involving 549.5 million shares at an average price of N79 per share, as well as a September 2025 purchase of 39.3 million shares valued at N1.21 billion.
Otedola became chairman of First HoldCo Plc in October 2024 and is regarded as one of Nigeria’s leading investors.
In May 2026, he announced plans to invest his $100 million stake in Geregu Power Plc into the Dangote Refinery.
The businessman was also listed among Africa’s billionaires by Forbes in March 2026, alongside other Nigerian industrialists including Aliko Dangote, Abdulsamad Rabiu and Mike Adenuga.
