Femi Otedola, the chairman of First HoldCo Plc, acquired 147.7 million new shares in the banking group on Monday, taking his stake in the company to 27.49 per cent.
In a transaction announced in a regulatory filing signed by the group’s Company Secretary, Abiola Baruwa, Mr Otedola purchased 147,737,699 additional shares at N140 per share.
The additional shares, which represent 0.33 per cent of the company’s outstanding shares, were purchased through Calvados Global Services Limited and valued at N20.7 billion.
Following the purchase, Mr Otedola now holds a total of 12.05 billion shares in the financial institution, representing about 27.49 per cent of the company.
The First HoldCo chair’s total shareholding in the company is valued at about N1.65 trillion, based on the company’s share price of N136.90 as of 4:00 p.m. (WAT) on 17 August.
The businessman has continued to increase his investment in the financial institution since emerging as its largest shareholder in 2021.
The latest purchase is the second time in August that Mr Otedola has increased his stake, following his acquisition of about 138 million shares in the financial services group, valued at approximately N18.1 billion, about a week ago.
Also, on 30 July, Mr Otedola increased his stake in the financial services group by acquiring an additional 1.78 billion shares valued at about N222.2 billion.
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Nigerian Exchange Group (NGX Group) has commenced corporate baseline assessments under its N-Zero initiative, marking the next phase of its effort to help Nigerian businesses strengthen climate readiness, develop credible net-zero pathways and position for emerging opportunities in climate-aligned capital.
Launched in January in partnership with DEG Impulse gGmbH and Africa Foresight Group (AFG), N-Zero is designed to support companies in moving from climate ambition to practical action by strengthening their capabilities in climate strategy, emissions measurement, transition planning and access to emerging carbon-market opportunities.
The baseline assessment will establish each participating company’s starting point and provide a structured view of its readiness across key areas, including climate-risk management, emissions measurement and reporting, target-setting, transition planning, technical capabilities and understanding of carbon-market opportunities. The findings will identify priority gaps and inform tailored support for each company.
Since its launch, N-Zero has engaged more than 50 companies across key sectors of the economy, with 17 formally onboarded as community members and more than 100 companies receiving the baseline survey. Current community members include Access Holdings, Dangote Cement, United Bank for Africa, Stanbic IBTC Holdings, First HoldCo, Fidelity Bank, Zenith Bank, Wema Bank, NEM Insurance, Chapel Hill Denham, BUA Cement, Caverton Offshore Support Group, Presco, Oando, HBM Nigeria, Seplat Energy and Skyway Aviation Handling Company, with further companies being engaged as the initiative expands.
Commenting on the development, Temi Popoola, GMD/CEO, NGX Group, said:
“The transition to a net-zero economy is increasingly becoming a factor in competitiveness, investor confidence and access to capital. Nigerian businesses therefore need to move beyond climate ambition to demonstrate measurable and credible progress. N-Zero is designed to help companies understand where they stand today, identify the gaps that matter most and build practical pathways towards where they need to be. The baseline assessment is a critical step because it gives us the evidence and insight required to tailor support and help participating companies turn climate intent into measurable action and long-term value.”
Following the baseline exercise, companies will undergo needs assessments combining digital diagnostics with expert technical review to determine their readiness levels, identify priority gaps for intervention and define the next steps towards credible climate targets, transition plans and implementation.
N-Zero is structured as a progression from awareness and assessment to target setting, transition planning, validation, implementation and impact tracking. This approach is intended to help companies strengthen internal capabilities while identifying commercial opportunities arising from the transition to a lower-carbon economy.
Under the 2026 roadmap, baseline analysis and initial needs assessments are expected to conclude in September, followed by partner-led sessions and tailored support packages in October and November. The broader programme targets include supporting participating companies to develop science-aligned targets and transition plans, assess emissions-reduction potential, facilitate eligible carbon-offsetting projects and track progress towards the reduction or avoidance of approximately 20,000 tonnes of carbon-dioxide-equivalent (tCO₂e) emissions.
For NGX Group, the initiative also supports the development of a more climate-ready corporate sector and a capital market better positioned to respond to the risks and opportunities associated with the global transition to a lower-carbon economy.
As N-Zero enters this next phase, its focus is clear: establishing a measurable baseline for corporate climate readiness and helping Nigerian businesses move from commitment to credible, verifiable action.
The family of a 37-year-old Nigerian woman who travelled to Doha, Qatar, on Tuesday has raised concerns after she became unreachable shortly after arriving in the country.
The woman, Saratu Jibo Yusuf, travelled from Lagos to Doha on Qatar Airways flight QR1408 on 1 September, according to her ticket, which PREMIUM TIMES saw.
Her brother, Jonathan Jibo, told PREMIUM TIMES that the last communication he had with his sister was via WhatsApp while she was still on the aircraft, using its Wi-Fi, on Tuesday.
He said a family friend who was expected to receive her at the airport was already waiting when the flight arrived, but could not find her.
The family subsequently contacted the airline and the airport, where they were told that Ms Yusuf had collected her luggage and left the terminal.
Mr Jibo said the issue was particularly worrying because his sister was familiar with airport procedures, having worked at the Lagos airport for almost 12 years.
“She is not even a child. She is 37 and always wants to be independent and hardworking,” he told PREMIUM TIMES.
According to him, this was Ms Yusuf’s first trip outside Nigeria. She had no friends in Qatar whom the family could contact immediately, and the family had already arranged and paid for her accommodation months before the journey.
She was also expected to resume work in Doha a few weeks after her arrival, he said.
Mr Jibo added that his sister had financed the trip herself and that the family had no reason to expect she would voluntarily cut off communication immediately upon arrival.
“She worked and financed everything from scratch,” Mr Jibo said, expressing concern over her whereabouts.
Saratu Jibo Yusuf’s flight ticket seen by PREMIUM TIMES.
Family seeks answers
Mr Jibo raised the alarm on Thursday after 48 hours without hearing from his sister.
He called for the review of CCTV footage and urged authorities to establish the last person seen with her after she left the airport.
The family has also forwarded details of the case to the Nigerian authorities and the Nigerian Embassy in Doha, with relatives hoping to learn her whereabouts.
The case has drawn attention to the importance of tracing the movements of passengers who become unreachable after leaving airports.
In May 2024, a similar concern was raised over Janet Kwalmi Ere, a 67-year-old woman who arrived at the Murtala Muhammed International Airport in Lagos from London.
Ms Ere was reported missing after boarding an airport taxi shortly after her arrival. Former Senator Ben Murray-Bruce called for airport CCTV footage to be reviewed and for the taxi she boarded to be identified.
Three days later, Mr Murray-Bruce announced that Ms Ere had been found and thanked security agencies and others who assisted in the search. He did not disclose details of where or how she was located.
The earlier case highlights the importance of quickly establishing what happens to passengers after they leave an airport, particularly when their families are unable to reach them.
NCAA reaction
Reacting to the development, Michael Achimugu, director of public affairs and consumer protection at the Nigerian Civil Aviation Authority (NCAA), said he had contacted the airline and was informed that CCTV footage showed Ms Yusuf arrived safely, collected her luggage and exited the terminal.
He said further checks were being made to establish whether she had reached the hotel booked for her and whether she had arrived there by the hotel’s pick-up vehicle.
According to Mr Achimugu, Qatar’s visa booking system is tied to a specific hotel reservation, and Discover Qatar would be able to check the accommodation details linked to Ms Yusuf’s trip.
He also said he had informed the airline of the family’s concerns, including fears about possible human trafficking or forced labour.
Mr Achimugu, however, did not say Ms Yusuf had been trafficked, abducted or subjected to forced labour.
He said if checks established that she did not reach the hotel, authorities would have to begin a manhunt.
He urged the family to remain calm while efforts to establish her whereabouts continued, adding that although the matter was not formally within his purview, he had intervened to assist the family.
He also said the investigation was taking time because it was the weekend and a public holiday period in Qatar.
Qatar Airways responded to the issue on Saturday after Mr Jibo’s message to the airline. He sent the airline his sister’s flight details and asked it to investigate the matter.
In a message seen by PREMIUM TIMES, the airline said it understood the family’s concerns and was in contact with its team to obtain information that could help clarify the situation.
“Hello, Jonathan. We understand your concern and are in touch with our team to inquire about any information that may help clarify the situation,” the airline said.
It added that it would share updates as soon as they became available.
The airline’s response came after the family had spent days trying to establish Ms Yusuf’s whereabouts.
As of Sunday morning, there was no confirmation from the family, Qatar Airways or Nigerian authorities that Ms Yusuf had been found.
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