Wale Oyedeji, group managing director and chief executive officer of First HoldCo Plc, has said the holding company will deploy fresh capital into overseas expansion and acquisitions of new business verticals as the financial services group enters the final phase of its recapitalisation programme.
This was disclosed during the company’s half-year 2026 earnings call on Monday; the additional capital the group plans to raise in the second half of the year will not merely satisfy regulatory capital requirements but will also finance expansion into new markets and businesses capable of delivering long-term shareholder value.
“There will be an injection of capital to acquire new business verticals. We will also be injecting additional capital into the bank to enable the bank to pursue expansion initiatives,” Oyedeji said.
Oyedeji said identified foreign markets are already being evaluated, with part of the incoming capital earmarked specifically for expansion outside Nigeria.
“You will realise that for some time now, we have put the brake on international expansion. There are identified markets that we will be exploring. Some capital will be going to explore some of that,” he said.
