Nigeria · DEALS
Key Facts
—The institution: First Bank of Nigeria was founded in 1894 and now operates under the holding company First HoldCo Plc, renamed from FBN Holdings in 2025.
—Otedola’s stake: By late July 2025, Femi Otedola held 25.87 percent of First HoldCo, or 11.76 billion shares, after spending nearly 300 billion naira in a single week.
—The block trade: On 16 July 2025, rival shareholders Oba Otudeko and Tunde Hassan-Odukale sold a combined 25 percent stake for about 323 billion naira to RC Investment Management Ltd, linked to Renaissance Capital.
