Ecobank Transnational Incorporated (ETI) has joined the trillion-naira exclusive club of firms, marking its first entry in its two decades of being listed on the Nigerian Exchange.
The Pan-African lender saw its valuation surge more than the N1 trillion mark on Monday, January 5, 2026. As of the close of trade on Monday, January 12, the stock had gained 7.4 percent, with its share price hitting N45. ETI has accrued 23 percent over the past four-week period alone, making it the 40th best on NGX.
“Ecobank Transnational Inc. is currently the 23rd most valuable stock on the NGX with a market capitalisation of N 1.07 trillion, which makes up about 1.02 percent of the Nigerian Stock Exchange equity market,” according to African Stock Exchange data, a market analytics platform.
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This historic feat follows the early repayment of $245 million of Ecobank’s $300 million Eurobond issuance to bondholders who validly tendered their notes ahead of the February 2026 maturity date.
This must have led to an improved confidence in the bank’s operation, which gained 61 percent a year ago despite the sell-off that rattled the bank’s stock in 2025.
More Nigerian lenders are seeing their market capitalisation cross the N1 trillion mark, suggesting renewed investor confidence in the sector that’s undergoing a recapitalisation exercise.
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GTCO remains the most capitalised, with its valuation reaching N3.62 trillion as of January 12, followed by Zenith Bank, First Bank of Nigeria, United Bank for Africa, Access Bank, and Stanbic IBTC with N2.75 trillion, N2.16 trillion, N1.94 trillion, N1.23 trillion, and N1.7 trillion, respectively. By crossing N1 trillion, Ecobank now sits among the country’s biggest lenders within the trillion-naira club.
Fidelity Bank, on April 4, 2025, saw its market value shoot above N1 trillion, making it the first tier-2 bank to cross the threshold. However, it slipped below the mark on May 20 following a Supreme Court ruling that pressured its share price. The bank’s valuation currently stands at N957 billion.
The membership of the exclusive club of listed companies with at least N1 trillion valuation has increased to 24, compared to 17 a year earlier, according to data from the Nigerian Exchange Limited.
The top five members include BUA Foods with a market cap of N14.38 trillion, MTN Nigerian Communications with N12.70 trillion, Dangote Cement with N10.71 trillion, Airtel Africa with N8.53 trillion, and BUA Cement with N6.2 trillion.