Nigerian billionaire and First HoldCo chairman, Femi Otedola, has assured that the financial institution will recover from its current crisis. He shared this in a statement on his X account on Tuesday.

Otedola recently revealed that the company’s profit fell by 92 percent in its 2025 financial year due to the absorption of N748 billion in legacy bad loans. He described this period as a challenging but necessary phase in rebuilding the institution for long-term sustainability.

In his statement, Otedola noted that restructuring a financial giant like First HoldCo inevitably comes with disruptions, including both “pleasant and unpleasant surprises,” as the firm works to dismantle weak structures and establish a stronger foundation.

He explained that the current phase involves overhauling old systems and removing faulty foundations to create a better experience for all stakeholders. “This is our current reality at FirstHoldco Plc, but surely a new beginning here for all of us,” he said.

Otedola emphasized that the ongoing reforms are designed to ensure corporate sustainability and longevity, driven by a strong sense of purpose and a clear vision for the institution’s future.

He added that the transformation of First HoldCo will be guided by principles of transparency, accountability, and the creation of long-term value for all stakeholders. Reaffirming his personal commitment, the billionaire investor stated that he remains focused on building a world-class financial institution and will continue to invest both financially and personally to see the process through.

“I remain grounded in our pursuit to build a world-class financial institution without distractions, whilst my commitment to continue to invest my all remains unflinching,” Otedola said.