First HoldCo Plc Chairman Olufemi Otedola has continued his aggressive accumulation of shares in the financial services group after a company related to him acquired an additional 95,699,240 ordinary shares valued at approximately ₦12.58 billion.
The latest acquisition, disclosed in a regulatory filing submitted to the Nigerian Exchange (NGX) on August 24, 2026, showed that Calvados Global Services Limited, a company related to Otedola as a significant shareholder, purchased the shares at ₦131.48 per share on the floor of the Nigerian Exchange.
The transaction represents Otedola’s latest disclosed investment in First HoldCo and extends a buying spree that has gathered momentum over the past several months.
Naijaonpoint had previously reported that Otedola increased his holdings to almost 20 percent after acquiring 549.54 million shares worth ₦43.41 billion in May 2026 through Calvados Global Services Limited. That acquisition lifted his estimated combined direct and indirect holdings to about 8.60 billion shares, representing approximately 19.36 percent of the company’s issued share capital.
The billionaire investor accelerated his accumulation in July.
On July 22, Calvados Global Services purchased 706.13 million shares valued at approximately ₦77.59 billion, increasing Otedola’s effective interest in First HoldCo to nearly 22 percent, according to Naijaonpoint’s earlier analysis.
Just eight days later, on July 30, Calvados Global Services executed an even larger acquisition of 1.779 billion shares at ₦124.90 per share, a transaction worth approximately ₦222.21 billion that raised Otedola’s stake to about 26 percent.
The buying continued into August.
On August 6, the investment vehicle acquired another 138.04 million shares worth ₦18.11 billion, followed by 147.74 million shares valued at approximately ₦20.68 billion on August 14.
The latest purchase of 95.70 million shares now marks another step in what has become one of the most sustained insider accumulation programmes on the Nigerian Exchange this year.
The continued acquisitions come despite the sharp appreciation in First HoldCo’s share price during 2026.
As previously reported by Naijaonpoint, the stock surged 330.77 percent within seven months, rising from the ₦32.50 private placement price to ₦140, while the company’s market capitalisation climbed above ₦6 trillion.
Unlike many investors who reduce exposure after significant price appreciation, Otedola has continued increasing his position through multiple market cycles, including recent periods of profit-taking that temporarily pulled the stock below its August peak.
The regulatory filing, signed by Abiola Baruwa, Group Company Secretary of First HoldCo Plc, classified the disclosure as an initial notification of insider dealing and confirmed that the transaction involved ordinary shares of the company with ISIN NGFBNH000009.
The latest purchase reinforces Otedola’s long-term commitment to First HoldCo and signals continued confidence in the group’s strategic direction as it advances its recapitalisation programme and expansion plans.