FBN Chairman’s Related Company Purchases 64.5 Million First HoldCo Shares for N2 Billion

First Ally Capital Limited, a related company to Ebenezer Olufowose, the Chairman of the Board of Directors of First Bank of Nigeria Limited has purchased N2 billion worth of First HoldCo shares.

First HoldCo is the parent company of First Bank of Nigeria.

First Ally Capital bought 64,516,129 shares of First HoldCo Plc. The shares were acquired at a price of N31.05 per share on November 25, 2025, according to a filing on the NGX.

The purchase aligns with the ongoing strategic realignment and recapitalization efforts within FBN Holdings.

It provides additional support and confidence at a time when major shareholders (like Mr. Femi Otedola) have also been aggressively increasing their stakes.

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