The combined transaction amounted to 64,878,668 shares, translating to an investment worth about N2.01bn at the stated unit price.
By Temitope Aina
First HoldCo Plc has notified the Nigerian Exchange Limited of insider dealings involving its Chairman, Olufemi Otedola, and his affiliated company, Calvados Global Services Limited, which jointly acquired 64.8m shares of the group valued at over N2bn.
In a regulatory filing dated September 24, the company disclosed that Otedola directly purchased 39,313,379 ordinary shares of First HoldCo at N31 per share. In addition, Calvados Global Services Limited, a company related to the billionaire investor, bought 25,565,289 ordinary shares at the same price.
The combined transaction amounted to 64,878,668 shares, translating to an investment worth about N2.01bn at the stated unit price.
According to the filing, the deals were executed on September 23, 2025, on the floor of the Nigerian Exchange in Lagos.
The disclosure, signed by the company’s board, emphasised compliance with regulatory requirements on insider dealings and transparency in shareholding transactions.
With this acquisition, Otedola, who already holds a significant stake in First HoldCo, further consolidates his position as a major shareholder in the financial services group.
Last year, The PUNCH reported that the Chairman of FBNHoldings, Otedola, had increased his stake in the business, as he acquired 2,029,376,358 units of shares valued at N18.95bn on Thursday.
Otedola acquired 316,506,776 units of FBNHoldings shares directly at N21.91 per unit. This brings the deal to about N6.93bn.
Also, in July, shares of First HoldCo climbed to a 52-week high of N36.45 per unit last week, according to data from the Nigerian Exchange Limited. This follows significant share divestments by firms linked to businessman Oba Otudeko and a former FirstBank chairman, Tunde Hassan-Odukale, in off-market transactions.