First HoldCo shares surged in Lagos trading on Tuesday, pushing the financial services group's market capitalization past the N5 trillion mark.
The valuation milestone underscores the market's positive reception of the company's recent financial performance and strategic positioning.
93 trillion. These results highlighted the resilience of the company's diversified portfolio, which includes banking, insurance, and asset management arms.
The rally was bolstered by reports that billionaire Femi Otedola has spent N77.6 billion to acquire shares in the holding company.
This significant investment by one of Nigeria's most prominent business figures signals strong confidence in First HoldCo's growth trajectory and governance.
The market move comes shortly after the group reported a record first-half profit before tax of N653.5 billion, alongside gross earnings of N1.93 trillion.
These results highlighted the resilience of the company's diversified portfolio, which includes banking, insurance, and asset management arms.