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FirstHoldCo shareholders gather today for their 14th AGM to vote on raising N253 billion ($183.4 million) in fresh capital toward a N1 trillion ($724.6 million) paid-up base championed by Femi Otedola.
Femi Otedola confirmed he sold his Geregu Power stake to fund a $100 million investment in the Dangote Petroleum Refinery IPO as demand for the offering approaches $2 billion.
Femi Otedola has marked Mike Adenuga's 73rd birthday by recalling how the Globacom founder told him 24 years ago in Epe that he would be a great man.
FirstHoldCo has rallied 32% in the past month to become the best-performing tier-one bank stock on Nigeria's exchange, outpacing GTCO, Zenith Bank, Access Holdings and UBA.
A Nigerian court has vacated injunctions protecting Amaranta Oil and Jonescreek Hydrocarbon from EFCC scrutiny in a $1 billion Nestoil Group debt dispute.
Nigerian billionaire Femi Otedola bought $10 million in First HoldCo shares, lifting his stake to 17.56% as earnings rose.
Femi Otedola boosts FirstHoldCo stake with $1.35 million share purchase, raising his holding to 16.1 percent.