Chairman of First HoldCo Plc, Femi Otedola, has stated the continuing rebuilding and restructuring of the monetary companies group will include important disruptions.
In accordance with him, this would come with each “nice and ugly surprises,” as administration works to put a brand new basis for long-term sustainability.
Otedola made the remarks in a press release posted on his X web page on Tuesday, February 3, 2026, the place he described the transformation course of as a vital reset geared toward strengthening the establishment and delivering long-term worth to stakeholders.
What he’s saying
An excerpt of Otedola’s assertion on X reads.
- “Rebuilding and restructuring a behemoth like FirstHoldings Plc will include a whole lot of disruptions together with each nice and ugly surprises. We should pull issues aside, take away previous defective foundations and construct a brand new expertise for all our stakeholders,” he stated.
In accordance with him, the group is at present present process a troublesome however important section that marks a brand new starting for First HoldCo, anchored on transparency, accountability, and long-term worth creation.
- “A brand new starting that ensures company sustainability and longevity, fuelled by the tenacity of objective and veracity of imaginative and prescient, supported by our core pillars of transparency, accountability, and long-term worth for all stakeholders,” Otedola added.
Backstory
The assertion comes in opposition to the backdrop of First HoldCo’s 2025 monetary efficiency, which confirmed a pointy decline in profitability and triggered issues amongst traders.
Chairman Femi Otedola described the transfer as a deliberate “clear home” technique, taken consistent with regulatory steerage and evolving business expectations, reasonably than a mirrored image of weak working efficiency.
What you must know
Femi Otedola elevated his stake in First HoldCo Plc to 18.12% in 2025, after buying 3.82 billion extra shares, reinforcing his place as one of many group’s largest shareholders.
- The filings present that Otedola now holds 8.05 billion shares, representing a year-on-year enhance of over 90% from 4.23 billion models, or an 11.8% stake, in 2024.
- His expanded possession locations him amongst solely two shareholders with holdings above 5%, alongside RC Funding Administration Restricted, which controls a 23.47% stake within the firm.
As of December 2025, Otedola’s direct shareholding rose to three.25 billion shares (7.31%), up from 1.68 billion shares (4.71%) in 2024, whereas his oblique holdings climbed to 4.80 billion models (10.81%), in contrast with 2.54 billion models (7.09%) a yr earlier.
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