Chairman of First HoldCo Plc, Femi Otedola, has increased his stake in the financial services group after acquiring an additional 95.7 million ordinary shares valued at N12.58 billion.

The transaction was disclosed in a regulatory filing submitted to the Nigerian Exchange on Monday and signed by the Group Company Secretary, Abiola Baruwa.

According to the filing, the shares were acquired through Calvados Global Services Limited, an investment vehicle linked to Otedola.

The disclosure showed that the company purchased 95,699,240 ordinary shares of First HoldCo at N131.48 per share on August 24, 2026.

The acquisition, valued at approximately N12.58 billion, increased Otedola’s total shareholding in First HoldCo from about 12.05 billion shares to 12.15 billion shares.

The transaction raised his ownership stake in the financial services group to approximately 26.6 per cent, further consolidating his position as First HoldCo’s largest shareholder.

The latest investment comes amid sustained investor interest in First HoldCo shares, which have ranked among the best-performing banking stocks on the Nigerian Exchange this year.

First HoldCo closed trading at N127.90 per share on Monday, representing a 162.09 per cent year-to-date gain.

At the current market price, Otedola’s total stake in the company is estimated to be worth approximately N1.56 trillion.