Femi Otedola Increases Stake in First HoldCo to 18.12 Per cent
- Femi Otedola increased his total stake in First HoldCo to 18.12% in 2025
- His combined direct and indirect shareholding stands at about 8.02 billion shares
- First HoldCo’s issued share capital rose to 44.45 billion shares by the end of 2025
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
Femi Otedola, the group chairman of First HoldCo Plc, has increased his ownership in the financial holding company to 18.12%, according to the firm’s latest financial disclosures, The Cable reported.
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In First HoldCo’s unaudited consolidated and separate financial statements for the year ended December 31, 2025, released on Friday, Otedola’s combined direct and indirect shareholding stood at about 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.
Breakdown of Otedola’s shares
Details of the shareholding structure showed that Otedola directly owns 3.25 billion shares, representing a 7.31% stake in the company’s issued share capital.
He also holds an indirect interest of 4.8 billion shares, accounting for an additional 10.81% stake. This brings his total ownership to 18.12%, up from 11.8% at the end of the 2024 financial year.
Meanwhile, RC Investment Management Limited emerged as the single largest shareholder, with 10.43 billion shares, equivalent to a 23.47% stake in First HoldCo.
Issued shares increase
The report further indicated that the company’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.
At the close of the period, First HoldCo’s free float declined to N1.24 trillion, representing 58.34%, compared with N800.07 billion or 79.46% in 2024.
The company said the free float level remains in compliance with the Nigerian Exchange (NGX) requirements for firms listed on the premium board.
In December 2025, Otedola acquired additional shares in First HoldCo valued at N14.8 billion, further strengthening his position in the company.
Source: UGC
Recall that First Bank Plc, the commercial subsidiary of First Hold Co., has met the new capital requirement of N500 billion for an international banking licence.
Mr Otedola hailed the recapitalisation policy of the Central Bank of Nigeria and other policies of the apex bank, as he proposed that the capital requirement for an international banking licence be raised to N1 trillion.
The business mogul said the shareholders of First HoldCo were committed to injecting additional capital into existing subsidiaries and new business ventures.
Otedola sells total stake in Geregu
Legit.ng earlier reported that Mr Otedola sold his controlling stake in Geregu Power Plc in a N1.088 trillion ($750 million) transaction financed by a consortium of banks led by Zenith Bank Plc, according to filings with the Nigerian Exchange (NGX) and people familiar with the deal.
Otedola sold his 95% equity interest, held through Amperion to MA’AM Energy Ltd, an Abuja-based integrated energy company.
The deal, worth over N1 trillion, effectively transfers control of Geregu Power from entities linked to Otedola to MA’AM Energy.
Source: Legit.ng
