Banking stocks lift Nigerian market by N288 billion despite broad selloff

Nigeria · MARKETS

Key Facts

—Single-session gain: Investors earned N288.44 billion (~US$211 million) in paper wealth on a recent Monday, driven by heavyweight stocks including MTN Nigeria, First HoldCo and United Bank for Africa.

—June crash: Nigerian equities suffered their worst month on record in June 2026, erasing N13.29 trillion (~US$9.7 billion) in market value as the All-Share Index fell 8.28%.

—Banking concentration: The combined market capitalisation of 12 listed deposit-money banks reached N22.51 trillion (~US$16.5 billion) in the first half of 2026, up from N16.12 trillion (~US$11.8 billion) at end-2025.

Banking stocks lift Nigerian market by N288 billion despite broad selloff

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