The Chairman of First HoldCo Plc, Femi Otedola, has increased his investment in the financial institution by acquiring additional shares worth approximately N77 billion, raising the value of his total holdings to about N1 trillion.

A share dealing notice filed with the Nigerian Exchange (NGX) on Wednesday showed that Otedola purchased 706.13 million ordinary shares, increasing his stake in the company from 20.42 percent to 21.96 percent.

The latest acquisition further strengthens Otedola's position as the largest shareholder in First HoldCo and underscores his confidence in the long-term prospects of the financial services group.

The transaction, disclosed through an insider share dealing notification, comes amid sustained investor interest in the company's shares on the Nigerian Exchange.

Otedola has continued to deepen his investment in First HoldCo since emerging as a major shareholder, reinforcing his influence over the group's strategic direction.