First HoldCo Plc has disclosed a major equity investment by First Ally Capital Limited, which acquired 64,516,129 ordinary shares of the holding company at ₦31.05 per share on 25 November 2025.
The transaction, executed on the Nigerian Exchange Limited (NGX), was classified as insider share dealing due to the company’s relationship with the leadership of First Bank of Nigeria Limited.
The purchase was confirmed in a regulatory notice signed by Abiola Baruwa, Group Company Secretary, on 26 November 2025.
Details of the Transaction
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Investor: First Ally Capital Limited
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Issuer: First HoldCo Plc (RC 916455)
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Instrument: Ordinary Shares (ISIN: NGFBNH000009)
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Volume: 64,516,129 units
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Price: ₦31.05 per share
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Total Consideration: Approximately ₦2.00 billion
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Date of Trade: 25 November 2025
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Location: Lagos, Nigerian Exchange Limited
The transaction qualifies as an insider-related disclosure because First Ally Capital Limited is a related company to Mr. Ebenezer Olufowose, Chairman of First Bank of Nigeria Limited — a key subsidiary within the First HoldCo structure.
About First Ally Capital Limited
First Ally Capital Limited is a Nigerian investment-banking and financial-services firm with operations spanning:
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Investment Banking & Advisory
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Asset & Portfolio Management
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Trusteeship and Fiduciary Services
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Real Estate Investments
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Microfinance and Inclusive Banking
The firm operates as a diversified financial group, managing institutional, corporate, and private-client mandates. It is recognized for structuring, capital-raising initiatives, wealth-management services, and real-sector investment transactions.
Its leadership includes seasoned financial-services executives with decades of experience across banking, capital markets, and investment management.
The company’s business model positions it as both a strategic adviser and an active institutional investor in Nigeria’s financial sector.
Significance of the Investment
This acquisition signals:
1. Strengthened Institutional Confidence in First HoldCo
A multi-billion-naira equity purchase from a regulated financial-services group reinforces confidence in the long-term fundamentals of the First HoldCo Group, which includes First Bank of Nigeria Limited and its subsidiaries.
2. Increased Strategic Alignment
With First Ally Capital linked to key leadership within First Bank, the investment deepens institutional alignment between a major shareholder and the bank’s governance structure.
3. Potential Influence on Future Capital and Strategic Decisions
At over 64 million shares, First Ally Capital joins the ranks of significant shareholders whose positions may influence future recapitalization, growth plans, and corporate actions within the HoldCo.
4. Broader Market Implication
Insider-related purchases of this magnitude are often interpreted as a positive forward-looking signal, particularly ahead of expected earnings, regulatory reforms, operational restructuring, or future capital-raising activities.
Outlook
The transaction comes at a time when Nigerian banks are preparing for increased regulatory capital requirements and expanding their holdco structures.
First Ally Capital’s investment positions it strategically within Nigeria’s evolving banking and financial-services landscape.
Further disclosures are expected if additional related-party purchases or governance changes occur at First HoldCo.