Femi Otedola Set to Buy GTBank in Strategic Financial Shake-Up

In a bold and dexterous move, Nigerian billionaire Femi Otedola is set to acquire Guaranty Trust Bank (GTBank), one of Nigeria’s most prominent financial institutions.
The potential acquisition marks a significant pivot in the nation’s banking sector and reinforces Otedola’s reputation as one of Africa’s most strategic business minds.
Otedola’s influence in the financial services industry has grown rapidly, particularly through his involvement with FirstHoldco. Under his leadership, FirstHoldco reported earnings exceeding \$2 billion in 2024, with total assets reaching \$17.46 billion. He has overseen the commencement of a landmark 44-story headquarters in Eko Atlantic City, Lagos an ambitious project that has drawn national attention.
The groundbreaking ceremony was attended by Vice President Kashim Shettima and Africa’s richest man, Aliko Dangote.
But Otedola’s impact goes beyond corporate boardrooms. He remains a devoted philanthropist with a deep commitment to education and child welfare.
Through the Sir Michael Otedola Scholarship Awards Foundation, he continues to provide scholarships to underprivileged students across Nigeria. In 2019, he made global headlines with a historic \$14 million donation to Save the Children U.K. the largest single donation ever made by a Nigerian supporting thousands of vulnerable children in Nigeria’s conflict-affected northeast.
Despite owning luxury residences in London, Dubai, Monte Carlo, Abuja, and Lagos, Otedola stays grounded and future-focused. As Vice President of Save the Children UK, he continues to champion causes related to education, child welfare, and economic empowerment across Africa.
His newly released book, Making It Big, is more than just a business memoir it is a manifesto of resilience, vision, and generosity. It speaks to entrepreneurs starting from the ground up, and it underscores a truth Otedola has long embodied: success is most powerful when it’s used to lift others.
With his eyes now set on GTBank, all signs indicate that Femi Otedola is once again preparing to reshape the contours of Nigerian finance.