First Bank of Nigeria today hit a landmark in Nigerian stock market history as the market capitalisation of the company closed today at N1,039,254,191,332, making it the first quoted company in Nigeria to cross the trillion Naira mark. The stock price closed at N52,25 per share. The feat also makes First Bank the most valuable company on the Nigerian Stock Exchange (NSE).

The development is good news for millions of Nigerians who took part in First Bank's hybrid offer last year, which sold shares to subscribers at N36 each. The current share price has netted them a profit on paper of 58%.

First Bank began operation in Nigeria in 1894 from the offices of the shipping firm Elder Dempster and today boasts over 350 branches across Nigeria and a wholly owned banking subsidiary in the United Kingdom.