By David Akinmola
Billionaire investor Femi Otedola has acquired shares worth over N43 billion in First HoldCo Plc, further strengthening his position in the financial institution and signaling renewed investor confidence in the banking group.
The transaction, which was disclosed through market filings on the Nigerian Exchange Limited (NGX), involved the purchase of a substantial volume of shares over multiple trading sessions.
The acquisition has reinforced Otedola’s growing influence within First HoldCo, the parent company of First Bank of Nigeria Limited, amid ongoing reforms and recapitalisation efforts in the banking sector.
Market analysts said the investment reflects strong confidence in the long-term prospects of the institution, particularly as Nigerian banks reposition to meet new capital requirements introduced by the Central Bank of Nigeria (CBN).
The latest purchase also triggered increased trading activity in First HoldCo shares on the NGX, with investors closely monitoring developments surrounding the company’s ownership structure and future growth plans.
Industry stakeholders noted that Otedola’s continued investment could enhance market perception of the group and support efforts aimed at strengthening corporate governance, profitability and operational stability.
The businessman, who has made strategic investments across banking, energy and other sectors, has in recent years expanded his presence in Nigeria’s financial services industry.
Financial experts said the acquisition may further boost investor sentiment toward banking stocks, especially as the sector continues to benefit from rising interest rates, improved earnings and ongoing recapitalisation initiatives.
First HoldCo has remained one of the most actively traded banking stocks on the NGX, with investors showing sustained interest in the company’s restructuring and expansion strategy.
