Prime Business Africa
Femi Otedola, the chairman of First HoldCo, has increased his stake in the financial institution by 6.32 percent, from 11.8 percent held at the end of 2024 to 18.12 percent as of December 31, 2025.
In the company’s unaudited consolidated and separate financial statements for the year ended December 31, 2025, Prime Business Africa noted that Otedola’s shares held at the end of December last year were 8.05 billion.
Join our WhatsApp ChannelThe shares, representing an 18.12 percent controlling stake in First HoldCo, were valued at N385.84 billion as of December 31, 2025, according to Prime Business Africa’s analysis.
A breakdown of the billionaire’s shareholding showed that Otedola holds 3.25 billion direct shares in First HoldCo, representing a 7.31 percent stake and valued at N 155.73 billion.
Also, the businessman and Africa’s 15th-richest person, holds indirect shares of 4.8 billion, representing a 10.81 percent stake, valued at N230.11 billion, in the financial institution.
Otedola’s total shareholding increased from the 4.23 billion shares, representing a 1.8 percent stake, held at the end of 2024, which is valued at N118.75 billion.
It was gathered that Otedola held 1.68 billion direct shares, worth N47.39 billion, representing a 4.71 percent stake, and 2.54 billion indirect shares, valued at N71,35 billion, representing a 7.09 percent stake.
Within one year, Otedola’s shares in First HoldCo increased by 3.82 billion, from 4.23 billion to 8.05 billion, and the value of the shares rose by N267,09 billion, from N118.75 billion to N385.84 billion.
However, Prime Business Africa’s analysis showed that the value of the 8.05 billion shares has dropped to N362.48 billion as of Friday, January 30, 2026, from the N385.84 billion it was valued at on December 31.
Otedola’s investment value fell by N23.36 billion following a 6.05 percent or N2.9 kobo decline in First HoldCo’s share price, which dropped from N47.90 kobo on December 31 to N45 on Friday.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
