Nigeria, Dec. 19 -- Femi Otedola, the chairman of First HoldCo Plc, has further consolidated his position as the top shareholder of the financial services group, with his latest share purchase valued at N14.8 billion.

The billionaire entrepreneur, whose investment interest cuts across energy, banking and real estate, procured 370 million shares at N40.1 each on Thursday, according to a regulatory filing at the Nigerian Exchange Limited.

He bought the shares through Calvados Global Services Limited, his special purpose acquisition vehicle, the document showed.

The latest acquisition by the majority owner of Lagos-listed electricity provider, Geregu Power Plc, takes his combined ownership in First HoldCo to 16.9 per cent. That is equival...