Billionaire businessman and group chairman of First HoldCo Plc Femi Otedola has increased his shareholding in the financial holding company to 18.12 percent.
According to First HoldCo’s unaudited consolidated and separate financial statements for the year ended December 31, 2025, released on Friday, Mr Otedola’s combined direct and indirect holding stood at 8.02 billion shares.
The financial statements were signed by the group managing director, Adebowale Oyedeji, the acting chief financial officer Wasiu Shafe and the group company secretary, Abiola Baruwa.
Details of the shareholding structure showed that Otedola directly holds 3.25 billion shares, representing 7.31 percent of the company’s issued share capital.
He also has an indirect holding of 4.8 billion shares, which accounts for 10.81 percent.
This brings his total stake to 18.12 percent, up from 11.8 percent at the end of the 2024 financial year.
The report also showed that RC Investment Management Limited is the largest single shareholder, with 10.43 billion shares, representing 23.47 percent of the company.
First HoldCo’s total issued share capital increased to 44.45 billion shares as of December 31, 2025, from 35.9 billion shares recorded at the end of 2024.
As of the reporting date, the company’s free float stood at N1.24 trillion, representing 58.34 percent, compared with N800.07 billion, or 79.46 percent, in 2024.
First HoldCo said the free float level remains in line with the Nigerian Exchange requirements for companies listed on the premium board.
In December 2025, Femi Otedola acquired additional shares in First HoldCo valued at N14.8 billion.
First HoldCo is the financial holding company of First Bank of Nigeria Limited and oversees subsidiaries across commercial banking, asset management, insurance and other financial services in Nigeria and selected international markets.
