Chairman of First HoldCo Plc, Femi Otedola, has mentioned the continuing rebuilding and restructuring of the {financial} companies group will include vital disruptions.
In accordance with him, this would come with each “nice and unsightly 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 obligatory reset geared toward strengthening the establishment and delivering long-term worth to stakeholders.
An excerpt of Otedola’s assertion on X reads.
In accordance with him, the group is presently present process a troublesome however important part that marks a brand new starting for First HoldCo, anchored on transparency, accountability, and long-term worth creation.
The assertion comes in opposition to the backdrop of First HoldCo’s 2025 {financial} efficiency, which confirmed a pointy decline in profitability and triggered considerations amongst traders.
Chairman Femi Otedola described the transfer as a deliberate “clear home” technique, taken in keeping with regulatory steering and evolving trade expectations, moderately than a mirrored image of weak working efficiency.
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.
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.
