Billionaire businessman and Chairman of First Bank Nigeria (FBN) Holdings Plc, Mr. Femi Otedola, has acquired an additional 797,946,415 units of the company’s shares through the Nigerian Exchange Limited (NGX). The transaction, disclosed in a corporate filing, saw the shares traded at N21.58 per share, amounting to a total of N17.219 billion.

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With this latest purchase, Otedola’s stake in FBN Holdings has increased to 11.63 percent, solidifying his position as the largest shareholder in the company. Last week, he had already bolstered his ownership with the acquisition of 546,674,034 units of shares valued at N12.01 billion through Calvados Global Services Limited, at a price of N21.97 per share.

Previously holding a 7.01 percent stake, Otedola’s recent investments highlight his commitment to maintaining and expanding his influence within FBN Holdings.