Lagos State – Femi Otedola’s continued acquisition of FirstHoldco shares, which pushed his total stake in the company to about 26 per cent following a N222 billion purchase last week, reflects sustained investor confidence in Nigeria’s banking sector.
The acquisitions, made through Otedola’s investment vehicle, Calvados Global Services Limited, mark the second such purchase in July alone, following an earlier N77.58 billion acquisition on July 22.
The consolidation of Otedola’s position comes amid a broader rally in Nigerian banking stocks this year, with the sector benefiting from improved investor sentiment and Nigeria’s equities market posting some of the world’s best returns in 2026.
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Market analysts say Otedola’s growing stake signals long term confidence in FirstHoldco’s strategic direction, potentially strengthening his influence over the company’s governance and future business decisions.
The banking sector’s strong performance this year has been a significant driver of the Nigerian Exchange’s overall gains, with several banking stocks featuring prominently among the market’s top performers.
FirstHoldco has not issued additional commentary on Otedola’s continued share accumulation, though the pattern of purchases suggests further consolidation may follow in the coming months.
