By Peter Omopo
FirstHoldCo Plc has become the first banking stock listed on the Nigerian Exchange (NGX) to surpass a market capitalisation of ₦6 trillion, marking a historic milestone for Nigeria’s banking sector following another strong rally in its share price.
Data published on the Nigerian Exchange showed that the financial services group closed trading on Friday with a market value of ₦5.89 trillion at a share price of ₦129.55. However, by 10:43 a.m. on Monday, the company’s stock had climbed to ₦137.20 per share, pushing its market capitalisation beyond the ₦6 trillion mark.
The achievement further extends FirstHoldCo’s remarkable performance on the Nigerian bourse in 2026 and comes less than two weeks after the company crossed the ₦5 trillion market capitalisation threshold for the first time on July 22.
Market data from the Nigerian Exchange showed that Zenith Bank remained the second most valuable banking stock with a market capitalisation of ₦5.07 trillion, followed by Guaranty Trust Holding Company (GTCO) at ₦4.75 trillion.
Stanbic IBTC Holdings was valued at ₦2.53 trillion, while United Bank for Africa (UBA) recorded a market capitalisation of ₦1.97 trillion. Ecobank Transnational Incorporated stood at ₦1.61 trillion, Access Holdings at ₦1.43 trillion, Fidelity Bank at ₦1.36 trillion and Wema Bank at ₦1.16 trillion.
The latest milestone follows a series of significant investments in the company by billionaire businessman and Chairman of the Board, Olufemi Otedola.
Last week, Calvados Global Services Limited, a company linked to Otedola, acquired a stake in FirstHoldCo valued at more than ₦222.2 billion on the Nigerian Exchange.
According to an official Notification of Share Dealing by an Insider filed with the exchange on July 30, the transaction involved the purchase of 1,779,094,976 ordinary shares at ₦124.90 per share, amounting to a total investment of approximately ₦222.21 billion.
The acquisition came just days after Otedola purchased additional FirstHoldCo shares worth ₦77.59 billion at ₦109.88 per share on July 22, further strengthening his investment in the financial services group.
The company’s latest market performance underscores growing investor confidence in FirstHoldCo and reinforces its position as Nigeria’s most valuable listed banking stock.
