Billionaire investor and Group Chairman of First HoldCo Plc, Femi Otedola, has further consolidated his controlling position in the financial services group following an insider transaction worth N18.11bn on the floor of the Nigerian Exchange Limited.
According to an official regulatory disclosure filed with the NGX on Friday, August 7, 2026, Calvados Global Services Limited, an entity closely tied to Otedola, acquired an aggregate of 138,041,465 ordinary shares of First HoldCo Plc on Thursday, August 6, 2026.
The transaction involved ordinary shares of First HoldCo Plc, trading under ISIN NGFBNH000009 on the NGX in Lagos. The purchase was executed by Calvados Global Services Limited, a corporate entity tied directly to the Group Chairman.
The transaction comprised 138,041,465 ordinary shares purchased at an execution price of N131.20 per share, bringing the total consideration to N18,111,040,208.00 (N18.11bn). The trade took place on Thursday, August 6, 2026, and was officially communicated to the market by the Group Company Secretary, Abiola Baruwa, on Friday, August 7, 2026.
The disclosure stated that the transaction took place at a uniform price of N131.20 per share on the Lagos trading floor. The single-day purchase is one of the largest direct equity acquisitions by an insider on the Nigerian bourse this year.
