FirstHoldco Plunges 14% as Late Earnings Filing Stoke Selloffs
First Holdco Plc lost approximately 14% of its market value on the Nigerian Exchange (NGX) as investors rotated out interest in the oldest listed financial services companies in Nigeria.
Details from the local bourse indicated that First Holdco Plc was among the top losers that drove the banking index down 5.48% last week.
The non-operating company of First Bank of Nigeria Limited lost about 14% of its market value, with the magnitude of selloffs signalling that investor sentiment had deteriorated.
The group’s late earnings release stoked sell pressure, dragging the company’s value down 19% from its 52-week high. The market continues to wait for First Holdings to release its 2025 audited report.
With the first-quarter 2026 earnings in view, First Holdco’s share price declined to N64.65 at the close of the trading session last week, from an opening price of N75.
Some stockbrokers said the banking giant’s share price declined due to portfolio adjustment ahead of the first quarter of 2026
In post-recapitalisation expectations, the market is demanding a new growth catalyst beyond the current one to drive a “buy on news” reaction.
At the close of the trading session in April, the market value of First Holdco Plc’s 44.453 billion outstanding shares was reduced to N2.873 trillion.
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