First HoldCo Chairman Femi Otedola has acquired another 147.74 million shares in the financial group for ₦20.68 billion, continuing his accumulation of the stock.
The shares were purchased through Calvados Global Services Limited at ₦140 each on August 14, according to an NGX insider-dealing disclosure filed on August 17.
The latest purchase follows a ₦18.11 billion acquisition earlier this month and a much larger ₦222.2 billion purchase in July, taking his disclosed purchases this year to about ₦412 billion.
Otedola’s increasing stake is significant for investors monitoring First HoldCo’s ownership structure, particularly as his holding moves closer to the 30% threshold. He has previously indicated an ambition to build a majority position in the group.
Investors will be watching for further insider purchases and any developments that could alter the company’s ownership and control structure.
