Otedola Raises Stake in First Bank Holding Company by ₦2.01bn

By Diafa Doubra,

Business mogul Femi Otedola has expanded his influence in the financial sector by acquiring additional shares worth ₦2.01 billion in First Bank of Nigeria Holdings Plc (First HoldCo).

The billionaire investor, who is already a significant shareholder in the company, made the fresh purchase through the Nigerian Exchange, further strengthening his position in one of the country’s oldest and largest banking groups.

Market watchers say Otedola’s growing stake could give him more control in shaping the direction of the holding company, which oversees First Bank and its subsidiaries. The move has also sparked renewed investor interest in First HoldCo shares, with many analysts predicting potential leadership and policy shifts in the near future.

Otedola has in recent years diversified his investments across energy, finance, and infrastructure, solidifying his reputation as one of Nigeria’s most strategic and influential businessmen.