Billionaire investor Femi Otedola has increased his ownership stake in FirstHoldCo Plc, the parent company of First Bank of Nigeria, after acquiring additional shares valued at ₦14.8 billion.

The latest acquisition, disclosed in a notice signed by the Group Company Secretary, Abiola Baruwa, and filed with the Nigerian Exchange Group (NGX) on Thursday, raised Otedola’s total shareholding in the financial holding company to over 17 percent.

According to the filing, the shares were purchased through Calvados Global Services Limited, an investment vehicle linked to Otedola. A total of 369,986,122 shares were acquired on December 18 at a price of ₦40.06 per share.

This transaction marks the latest in a series of strategic share purchases by the businessman. On September 25, 2025, Otedola increased his stake with the acquisition of 64.87 million shares worth ₦2.01 billion.

At that time, FirstHoldCo disclosed that he purchased 39.3 million shares directly on September 23, valued at approximately ₦1.2 billion, and an additional 25.6 million shares indirectly through Calvados Global Services Limited, worth ₦793.6 million.

Those earlier transactions boosted his ownership in the company to 16.1 percent from the 13.15 percent recorded in September 2024.