FirstHoldCo crosses N6 trillion market cap
Analysis based on 8 articles · First reported Aug 03, 2026 · Last updated Aug 03, 2026
FirstHoldCo's crossing of the N6 trillion market capitalisation marks a historic high for Nigerian banking stocks, reinforcing investor confidence in the sector and potentially attracting further capital inflows. The milestone, coupled with strong earnings and regulatory-driven recapitalisation, is likely to support continued appreciation in banking stocks and enhance the Nigerian Exchange's overall market valuation.
On August 3, 2026, FirstHoldCo Plc became the first Nigerian banking group to achieve a market capitalisation exceeding N6 trillion, reaching approximately N6.21 trillion as its share price climbed to N136.50. This milestone came less than two weeks after the company first crossed the N5 trillion mark on July 22, 2026. The rally has been driven by strong investor confidence following robust half-year 2026 financial results, with the stock gaining 184.97% year-to-date and 143.53% since the end of June. The achievement is set against the backdrop of the Nigeria — Central Bank of Nigeria's recapitalisation exercise, which mandated commercial banks to raise their minimum capital base by March 2026, prompting institutional investors to favour tier-1 lenders. Additionally, billionaire investor and board chairman Femi Otedola increased his stake in FirstHoldCo through Calvados Global Services Limited, acquiring 1.77 billion shares on July 30, 2026, for N222.20 billion, raising his ownership to 25.88%. This milestone underscores FirstHoldCo's dominance in Nigeria's banking sector and reflects growing market optimism about the sector's earnings outlook and capital strength.
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