Nigerian business magnate, Femi Otedola has tightened his grasp as the leading shareholder in First Bank of Nigeria, FBN, Holdings after acquiring 9,193,339 units of shares valued at N183,438,702.50 in different tranches.

According to a filling on the Nigerian Exchange Limited, NGX Otedola bought 1,228,141 units of the shares at N20.30 per share, totaling N24,931,262.30 while the second tranche was 7,965,198 units of shares at N19.90 per share, totaling N158,507,440.20.

Recall that the billionaire bought 797.7 million units of FBN Holdings’ shares valued at N17.2 billion, raising his stake in the company to 11.6 percent as against 8.7 percent held by Oba Otudeko, his closest rival.

Last week Thursday, Mr Otedola procured 863.2 million shares in two separate deals that accounted for more than 99% of the trading activities in the FBN Holdings.

While he purchased 316.5 million units valued at N6.9 billion directly in his name, he acquired 546.7 million units through his nominee, Calvados Global Services Limited, in a deal estimated at N12 billion.