Femi Otedola, group chairman of First HoldCo Plc, has increased his stake in the financial holding company to 18.12%. This move solidifies his position as a major shareholder in the company.
According to the unaudited consolidated and separate financial statements for the year ended December 31, 2025, Otedola’s combined direct and indirect shareholding stood at 8.02 billion shares.
First HoldCo’s financial statements were signed by Adebowale Oyedeji, group managing director, Wasiu Shafe, acting chief financial officer, and Abiola Baruwa, the group company secretary.
The statement noted that Otedola’s direct holding accounts for 7.31% of the company’s issued share capital, with an additional 10.81% stake through indirect holdings.
Otedola’s increased stake is a testament to his confidence in First HoldCo’s growth potential.
The company’s shareholding structure reveals that RC Investment Management Limited remains the single largest shareholder, with a 23.47% stake.
The financial holding company’s total issued share capital rose to 44.45 billion shares as of December 31, 2025, up from 35.9 billion shares at the end of 2024.
Otedola’s increased stake is part of his ongoing investment in the company.
In December 2025, Otedola acquired additional shares in First HoldCo worth N14.8 billion.
This move has contributed to his increased stake in the company.
The company’s free float declined to N1.24 trillion, representing 58.34%, from N800.07 billion, or 79.46%, in 2024.
Despite this decline, First HoldCo’s free float level remains in compliance with the Nigerian Exchange’s (NGX) requirements.
First HoldCo’s financial performance has been impacted by impairment charges, particularly loans and advances to customers, amounting to N710 billion.
The company’s unaudited consolidated and separate financial statements for the year ended December 31, 2025, reveal a pre-tax profit of N229.097 billion, reflecting a 71.18% decline compared to N796.461 billion in 2024.
Profit after tax also declined by 93.36% to N44.98 billion compared to N677.005 billion reported in 2024.
The significant decline in profit is largely attributed to impairment charges.
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