Ini Ebong, Deputy Managing Director of First HoldCo’s banking subsidiary, First Bank of Nigeria Limited, has acquired shares worth N533.64 million.
A filing by First HoldCo shows that the transaction was executed on 19 December 2025, with 12 million shares purchased at N44.47 per share.
The deal, identified by the code NGFBNH000009, contributed to the day’s 52.1 million trading volume and continues a recent streak of share purchases in the stock.
What the recent dealings say
The transaction follows recent share purchases, led by a N14.8 billion acquisition by Calvados Global Services Limited, linked to majority shareholder Femi Otedola, on 18 December 2025.
In that deal, Mr. Otedola acquired 369,986,122 shares of First HoldCo at N40.06 per share, driving trading volume to 385.6 million shares for the day.
- Earlier transactions included a N2 billion acquisition by a company linked to First Bank Chairman, Mr. Ebenezer Olufowose, and a N33.96 million purchase by an entity associated with Group Managing Director, Mr. Adebowale Oyedeji.
The following day, 19 December 2025, Calvados returned to the market with another purchase valued at N453.3 million, lifting Mr. Otedola’s indirect holding to 9.24%, alongside a direct stake of 7.76%.
On the same day, Anil Dua, a Non-Executive Director on the board of First HoldCo’s banking subsidiary, acquired 6,703,900 shares worth N307.1 million.
These transactions followed the release of the company’s nine-month financial results in late October 2025 and appear to have fueled bullish sentiment in First HoldCo’s shares on the Nigerian Exchange.
Price action
First HoldCo has surged over 48% month-to-date, closing at N46 per share as of trading on 22 December 2025.
This year alone, the stock has returned more than 63% to shareholders, with December shaping up to be its strongest month so far in 2025.
The company’s shares began trading at N28.05 on the Nigerian Exchange, closing January in the green at N29.95.
However, the stock slipped from February, reaching N25 by May before recovering to N26 in June, setting the stage for a bullish second half.
A bullish second half
Company shares gained momentum in July with a 24% surge, pushing the price to N32.25.
However, August saw milder gains, closing 0.78% at N32.50 on a market volume of 334 million shares.
From September through November, whipsaw price action created an attractive entry point at N31.05 per share, which investors likely capitalized in December.
So far this month, over 752 million shares have traded, making December the highest trading month in H2 2025.
The share price has jumped from N31 to N46 as of 22 December 2025, highlighting strong bullish sentiment in the stock.
