Femi Otedola, Chairman of FBN Holdings Plc, has increased his stake in First Bank by 2.22%, solidifying his position as the largest shareholder.

This follows a previous acquisition of N18.9 billion worth of shares, totaling 863,180,810 shares purchased through his holding company, Calvados Global Services Limited.

The latest purchase brings Otedola’s total shareholding to 11.63%, reaffirming his majority stake in the bank.

316,506,776 shares at N21.91 each, totaling N6.935 billion 546,674,034 shares at N21.97 each, totaling N12.01 billion

This development demonstrates Otedola’s continued confidence in First Bank and his commitment to maintaining a significant stake in the institution.