femi otedola

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Femi Otedola is actively increasing his stake in Nigeria's oldest banking group, First HoldCo, aiming for a majority takeover.

Nigerian billionaire Femi Otedola has significantly increased his investment in First HoldCo, Nigeria's oldest banking giant, spending around $300 million this year to raise his stake to 26%. He has made additional purchases including a recent $12-$13 million move as part of a strategic plan to gain majority control with a target of 51% ownership. This reflects his aggressive drive to consolidate wealth and control in Africa's banking sector, as reported by multiple financial news sources.