Nigeria, Sept. 26 -- The chair of First HoldCo Plc, Femi Otedola, has increased his holding in the financial services group through recent direct and indirect share acquisitions, according to regulatory filings at the Nigerian Exchange.

Mr Otedola procured 39.3 million shares at N31 per unit in his personal name, valuing the transaction at N1.2 billion, a corporate disclosure showed. The deal was executed on 23 September.

Another share purchase was executed by Calvados Global Services Limited, a company related to him on the same day, involving the acquisition of 25.6 million shares at N31 per unit. The transaction was worth N792.5 million.

Prior to the transactions, the billionaire investor who is the majority shareholder of Lagos-lis...