Billionaire Otedola’s Fortune Hits $2bn as FirstHoldCo Shares Soar
Femi Otedola’s net worth has risen to $2 billion, according to Forbes, as a surge in FirstHoldCo shares lifts the value of his stake in the parent of Nigeria’s oldest lender FirstBank.
The FirstHoldCo chair has seen his fortune gain about $700 million this year, placing him alongside some of Africa’s wealthiest entrepreneurs, as the value of his holdings in the financial services group have risen.
Forbes’ latest estimate puts Otedola’s wealth at $2 billion, up from $1.3 billion in its March 2026 Africa billionaires ranking. The billionaire’s wealth has risen rapidly as he accumulated shares in FirstHoldCo.
FirstHoldCo crossed the N7 trillion market capitalisation mark on Friday as its shares surged 8.1 percent.
The stock rose to N160 from N148, lifting the group’s market value to about N7.28 trillion, according to data from the Nigerian Exchange analysed by Market Reporters.
The gain made FirstHoldCo the first listed Nigerian bank to cross the N7 trillion threshold and consolidated its position as the most valuable lender by market capitalisation, ahead of Zenith Bank and Guaranty Trust Holding Company (GTCO).
