Finance

Access Holdings and First Bank of Nigeria Holdings Surpasses N1 Trillion Market Capitalization on the Nigerian Exchange.

Access Holdings Plc and the First Bank of Nigeria Holdings have crossed N1tn market capitalisation at the close of Tuesday’s trading on the Nigerian Exchange Limited.

They become the second and third lenders to achieve this feat in two days.

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United Bank for Africa hit the N1tn market cap milestone on Monday.

On Tuesday, AccessCorp and FBNH gained about N82bn and N93bn each to join the N1tn club and bring their market cap to N1.055tn and N1.026tn, respectively.

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FBNH had in December crossed the N1tn market cap mark but dropped by the next trading session.

UBA, which entered the elite club with N1.022tn, appreciated to N1.114tn at the close of Tuesday’s trading.

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With this development, all the tier-1 banks in the country have capitalisation worth more than N1tn.

This is coming weeks after the Central Bank of Nigeria announced plans for a recapitalisation exercise to drive a $1tn economy projected by President Bola Tinubu.

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