Femi Otedola, the chairman of First HoldCo Plc, has revealed that he shared a bunk bed with Lagos State Deputy Governor Obafemi Hamzat during their boarding school days 49 years ago.

Mr Otedola disclosed this in a post on X after hosting a dinner in honour of his longtime schoolmate, Mr Hamzat, attended by Aliko Dangote, the president of Dangote Group, and Abdulsamad Rabiu, the chairman of BUA Group.

The business tycoon said Mr Hamzat’s character has been defined over the years by honesty, sincerity, fairness, and strong moral principles.

“Yesterday, I hosted dinner in honour of @DrObafemiHamzat, the incoming Governor of Lagos State,” Mr Otedola said.

“A man of the highest integrity, with whom I shared a bunk bed at boarding school 49 years ago,” he added.

Mr Otedola stated that his longstanding relationship with Mr Hamzat has given him insight into the deputy governor’s character and values.

“My experience of his character over the years has been defined by his honesty, sincerity, fairness and strong moral principles,” Mr Otedola said.

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He, however, did not disclose the name of the boarding school he attended with the Lagos State deputy governor.

The billionaire investor has interests in financial services and oil & gas. He holds about 27.7 per cent of First HoldCo’s shares, following months of steadily increasing his stake in the banking group.

Mr Hamzat is seeking to contest the 2027 governorship election in Lagos State on the platform of the All Progressives Congress (APC), and has served as deputy governor under incumbent Governor Babajide Sanwo-Olu since 2019.

He emerged as the APC governorship candidate in May 2026.

Mr Hamzat served as Lagos State Commissioner for Science and Technology and later as Commissioner for Works and Infrastructure from 2005 to 2015.