Femi Otedola’s First HoldCo stake soars to N1.82 trillion in market value

What you should know:
The N1.821 trillion valuation of Otedola’s implied stake is based on the September 2, 2026 market closing price of N149.90 per share. This is the current market value, not his acquisition cost.

Otedola became a major shareholder in the former FBN Holdings in 2021 and assumed the First HoldCo chairmanship in January 2024.
He has described his investment as a deliberate, phased acquisition aimed at rescuing, rebuilding and repositioning the financial institution.
Nairametrics reported that his stake reached 18.12% in 2025 before rising to 20.40% by June 2026.
Otedola has also said his investment threshold is generally above 51%, citing his previous ownership-building strategies at Forte Oil and Geregu Power.

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