NGX: FirstBank Leads Gainers’ List As FUGAZ Investors Gain N88billiion


The market capitalization of Nigeria’s tier-1 banks, otherwise known as FUGAZ, appreciated by 3.57% to close at N2.55 trillion on Friday, January 13 2023, as investors gained a total of N88 billion.

NewsBeatng reports that at the end of the week’s five trading days, the five tier-1 Nigerian banks enjoyed positive market sentiments with First Bank Plc leading the gainers.

According to data from the Nigerian Exchange (NGX), the market capitalization of the top five banks rose to N2.55 trillion after appreciating by 3.57% during the week.

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