The disclosed and implied shareholding of First HoldCo Plc Chairman, Femi Otedola, in the Tier 1 lender has surged to an estimated market value of N1.82 trillion since the company filed its half-year financial statements with the Nigerian Exchange Limited in late July.

The sharp rise was driven by aggressive share purchases by Calvados Global Services Limited, an Otedola-linked entity, which invested approximately N351.17 billion to acquire 2.867 billion First HoldCo shares through five separate transactions between late July and August 2026.

Otedola’s previously disclosed direct and indirect holdings stood at 9.278 billion shares as of June 30, 2026.

Following the additional shares acquired by Calvados, his combined stake rose to approximately 26.71 per cent of First HoldCo’s 45.475 billion issued shares, significantly higher than the 20.40% stake previously disclosed as of June 30.

At the current share price, Otedola’s combined holding is valued at approximately N1.821 trillion.

First HoldCo’s share price has surged from N56.05 at the end of H1 2026 to N149.90, reaching a new high after gaining N3.20, or 2.18 per cent, on Wednesday, September 2.

The First HoldCo H1 2026 financial statements filed with the NGX showed that, as of June 30, 2026, Femi Otedola directly held 3.251 billion First HoldCo shares, representing a 7.15 per cent stake.

He also held 6.026 billion shares indirectly, equivalent to 13.25%, bringing his combined holding to 9.278 billion shares, or 20.40 per cent of the company.

Based on the N56.05 closing price as of June 30, the value of Otedola’s combined stake stood at approximately N520.02 billion.

This made him the second-largest disclosed shareholder grouping, behind RC Investment Management Limited, which held 10.434 billion shares, representing 22.94 per cent.

Following the H1 filing, Calvados Global Services Limited, an Otedola-related company, acquired an additional 2.867 billion First HoldCo shares through five disclosed transactions between July 22 and August 24, 2026.