Chairman of First HoldCo Plc, Femi Otedola, has described the company’s inclusion in the FTSE Frontier 50 Index as a defining milestone in its transformation, saying the recognition reflects growing investor confidence in the financial services group, its governance structure and business model.
First HoldCo was among six major Nigerian companies included in the FTSE Frontier 50 Index following FTSE Russell’s September 2026 semi-annual review, with the inclusion scheduled to take effect on September 21.
Speaking in a statement issued by the company on Monday, Otedola said the development validates the transformation taking place within the group and strengthens its standing among investors.
“Our inclusion in the FTSE Frontier 50 Index is a defining milestone in FirstHoldCo’s evolution,” he said.
“It affirms the transformation we are driving, the confidence investors continue to place in our institution, and the strength of our governance and business model.”
The FTSE Frontier 50 Index tracks some of the largest, most liquid and investable companies across frontier markets, providing international institutional investors with a benchmark for exposure to such economies.
First HoldCo said its inclusion places it alongside five other Nigerian companies among businesses considered sufficiently liquid and investable within frontier markets, increasing its visibility to global investors seeking exposure to Nigeria and other emerging frontier economies.
Group Managing Director of First HoldCo, Wale Oyedeji, attributed the recognition to the discipline and execution of the company’s board, management and employees.
“This achievement reflects the discipline, commitment and execution focus of our Board, Management and employees,” Oyedeji said.
“It validates the progress we have made in strengthening performance, enhancing operations and positioning FirstHoldCo for sustainable growth.”
According to him, inclusion in the index is expected to increase the company’s visibility among international institutional investors and support its ambition to become a leading African financial services provider.
Oyedeji said the group would remain focused on building a stronger, more profitable and globally competitive institution while delivering sustainable value to shareholders.
First HoldCo said its improved market position and liquidity profile had been supported by stronger market performance, improved financial results and the implementation of strategic priorities across the group.
The company also said it had met the Central Bank of Nigeria’s minimum capital requirement and would continue working to strengthen its capital base.
The company also said it had met the Central Bank of Nigeria’s minimum capital requirement and would continue working to strengthen its capital base.
According to First HoldCo, the stronger capital position is expected to reinforce financial resilience and provide additional capacity for accelerated growth across its businesses.
The group said its strengthened balance sheet, disciplined execution and expanding shareholder base would enable it to compete with greater scale, agility and confidence.
It also reaffirmed plans to continue investing in digital transformation, customer experience and operational efficiency as part of its long-term growth strategy.
First HoldCo said its continuing emphasis on governance, innovation and environmental, social and governance principles would further strengthen institutional confidence and support sustainable growth.
The company’s inclusion in the FTSE Frontier 50 Index takes effect on September 21, marking a further step in its effort to deepen global visibility and attract broader institutional investment.