Femi Otedola Increases Stake in FBN Holdings by N2.01bn

Billionaire businessman Femi Otedola has raised his stake in FBN Holdings Plc with an additional investment of N2.01 billion.

The acquisition was disclosed in two separate filings with the Nigerian Exchange Limited (NGX), signed by the company’s secretary, Adewale L. O. Arogundade, in line with post-listing requirements.

According to the documents, Otedola on September 23, 2025, purchased 39,313,379 shares at N31 per unit, valued at N1,218,714,749. On the same day, he acquired another 25,565,289 shares worth N792,523,959 through his investment vehicle, Calvados Global Services Limited.

The transactions increased his direct shareholding to 3,251,346,245 units, representing 7.76 percent, while his indirect holding rose to 3,491,125,586 units, or 8.34 percent.

With this, Otedola’s total stake in FBN Holdings now stands at 16.1 percent, up from 13.15 percent in September 2024.

The move comes barely three months after Oba Otudeko, founder of Barbican Capital Limited and chairman of Honeywell Group, alongside Tunde Hassan-Odukale, group managing director of Leadway Assurance, divested more than 10 billion shares in FBN Holdings.