Femi Otedola raises stake in First HoldCo to 18.12%

Billionaire businessman and Group Chairman of First HoldCo Plc, Femi Otedola, has further strengthened his position in the financial services giant after increasing his ownership stake to 18.12 percent.

Details contained in the company’s unaudited consolidated and separate financial statements for the year ended December 31, 2025, released on Friday, show that Otedola now controls a combined 8.02 billion shares, held both directly and indirectly.

The financial statements were signed by Adebowale Oyedeji, group managing director, Wasiu Shafe, acting chief financial officer, and Abiola Baruwa, the group company secretary.

According to the shareholding structure, the chairman directly holds 3.25 billion shares, representing 7.31 percent stake of the company’s issued share capital.

Otedola also has an indirect holding of 4.8 billion shares, accounting for an additional 10.81 percent stake.

His total shareholding therefore increased to 18.12 percent from 11.8 percent at the end of the 2024 financial year.

Meanwhile, the report showed that RC Investment Management Limited is the single largest shareholder, with 10.43 billion shares, representing a 23.47 percent stake in the company.

Compared with 35.9 billion shares at the end of 2024, First HoldCo’s total issued share capital rose to 44.45 billion shares as of December 31, 2025.

At the end of the period, the company’s free float declined to N1.24 trillion, representing 58.34 percent, from N800.07 billion, or 79.46 percent, in 2024.

First HoldCo added that the free float level remains in compliance with the Nigerian Exchange’s (NGX) requirements for companies listed on the premium board.

In December 2025, Otedola acquired additional shares in the financial holding company worth N14.8 billion.