Billionaire Femi Otedola vows First HoldCo Plc will rebound from its crisis, calling the current restructuring a necessary “new beginning”
Femi Otedola: First HoldCo’s Crisis Is a ‘New Beginning’ – Vows Full Recovery & Unflinching Support
Nigerian billionaire and Chairman of First HoldCo Plc, Femi Otedola, has boldly declared that the financial powerhouse will emerge stronger from its ongoing challenges, framing the tough period as essential groundwork for a brighter future.
In a motivational statement posted on his X account Tuesday, February 3, 2026, Otedola addressed the recent 92% profit plunge in the 2025 financial year—triggered by the absorption of ₦748 billion in legacy bad loans—as a deliberate, one-time cleanup for long-term strength.
He described restructuring a giant like First HoldCo as inevitably disruptive: “Rebuilding and restructuring a behemoth like First Holdco Plc will come with a lot of disruptions including both pleasant and unpleasant surprises. We must pull things apart, remove old faulty foundations and build a new experience for all our stakeholders.
“This is our current reality at FirstHoldco Plc but surely a new beginning here for all of us!!
“A new beginning that guarantees corporate sustainability and longevity fueled by the tenacity of purpose and veracity of vision supported by our core pillars of Transparency, Accountability, and Long Term Value for all stakeholders.
“I remain grounded in our pursuit to build a world class financial institution without distractions whilst my commitment to continue to invest my all; financial and otherwise, remains unflinching F.Ote💲”
The assurance follows Otedola’s earlier explanation that the massive loan write-off was a strategic move to “clean house properly” rather than carry forward hidden problems—aligning with regulatory expectations and setting the stage for growth in the recapitalization era.
With Otedola’s personal stake in First HoldCo recently rising and his unwavering pledge to invest fully, stakeholders are watching closely as the group aims to transform challenges into a foundation for world-class performance. Read More
