N100,000 in Nigerian Bank Stocks: How Much Your Money Would Be Worth After 8 Months
- Nigerians are increasingly investing in stocks, with retail participation growing by 138.76% in early 2026
- First HoldCo leads banking stock gains, turning ₦100,000 into approximately ₦269,311 within eight months
- UBA struggles with only 6% growth amid dividend concerns, highlighting disparities in banking stock performance
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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigerians are returning to the stock market in growing numbers, but the performance of banking stocks shows that simply investing is not enough.
The choice of stock can make a dramatic difference to how much an investor's money grows.
Source: Getty Images
Between January and May 2026, retail participation on the Nigerian Exchange (NGX) jumped 138.76% year-on-year, with equities worth ₦2.86 trillion traded during the period.
The renewed interest has coincided with strong performances from several banking stocks, following a major recapitalisation exercise that saw Nigerian lenders raise billions of naira from investors.
Between March 2024 and March 2026, Nigerian banks raised ₦3.37 trillion in fresh capital from domestic investors. The additional capital is expected to give lenders greater capacity to expand their balance sheets, grow lending, strengthen digital payments and compete for larger business opportunities.
But how much would ₦100,000 invested in five major Nigerian banks at the beginning of 2026 be worth on August 26?
First HoldCo leads the race
First HoldCo delivered the biggest gain among the five banks examined.
The stock started 2026 at ₦47.90 per share. An investor who put ₦100,000 into the company would have acquired approximately 2,087.68 shares.
At ₦129 per share on August 26, those shares would be worth about ₦269,311, representing a 169.3% gain.
In other words, the investor's ₦100,000 would have grown by roughly ₦169,311 in eight months, excluding dividends and transaction costs.
Investor interest has been supported partly by expectations around dividends. First HoldCo said in July that it planned to distribute at least 60% of annual post-tax profit as dividends.
Zenith Bank delivers another big return
Zenith Bank recorded the second-biggest share-price gain among the five lenders.
The bank began the year at ₦61.80 per share. A ₦100,000 investment would have purchased approximately 1,618.12 shares.
At ₦119.40 on August 26, the investment would be worth approximately ₦193,204.
That represents a 93.2% gain, meaning the investor would have made nearly ₦93,204 in share-price appreciation.
Zenith also maintained its reputation as a major dividend-paying bank, declaring a ₦10 per-share dividend for its 2025 financial year.
GTCO turns ₦100,000 into ₦140,684
GTCO also delivered a strong performance.
The stock opened in 2026 at ₦90.70. A ₦100,000 investment would have bought approximately 1,102.54 shares.
At ₦127.60 on August 26, the holding would be worth about ₦140,684, representing a 40.7% gain.
GTCO was also among the Nigerian listed banks that paid dividends for the 2025 financial year, declaring ₦12.76 per share.
Access Holdings posts a 31.2% gain
Access Holdings recorded a more moderate but still positive performance.
The stock began the year at ₦21 per share. A ₦100,000 investment would have bought approximately 4,761.91 shares.
At ₦27.55 on August 26, the investment would be worth approximately ₦131,190.
That represents a 31.2% share-price gain, adding roughly ₦31,190 to the original investment.
UBA records the smallest gain
UBA delivered the weakest share-price performance among the five banks.
The stock started 2026 at ₦41.65 per share. A ₦100,000 investment would have purchased approximately 2,400.96 shares.
At ₦44.15 on August 26, the investment would be worth approximately ₦106,002.
That represents just a 6% gain, or about ₦6,002 above the original investment.
UBA's performance was affected by investor concerns following its decision not to declare a dividend for the 2025 financial year amid regulatory-driven provisioning. The bank has indicated that it intends to resume dividend payments in 2026.
The ₦100,000 comparison
Based strictly on share-price appreciation, the ranking is clear:
Bank | N100,000 investment | Value as of August 26 | Gain |
First HoldCo | 100,000 | N269,311 | 169.3% |
Zenith Bank | N100,000 | N193,204 | 93.2% |
GTCO | N100,000 | N140,684 | 40.7% |
Access Holdings | N100,000 | N131,190 | 31.2% |
UBA | N100,000 | N106,002 | 6.0% |
The figures highlight one of the biggest lessons from the 2026 banking-stock rally: banking stocks have not moved in lockstep.
An investor who chose First HoldCo would have seen significantly more share-price appreciation than someone who invested the same ₦100,000 in UBA.
Source: Getty Images
The calculations are based on each stock's first trading price of 2026 and its August 26 price. They measure share-price appreciation only and exclude dividends, brokerage fees, taxes and other transaction costs.
The original material refers to six banks, but provides complete calculations for only five. The figures above therefore cover the five banks for which data was supplied.
Nigerian companies worth N1trn
Legit.ng earlier reported that the Nigerian Exchange (NGX) is home to more than 150 listed companies, but only a select group has crossed the N1 trillion market-capitalisation mark.
As of August 7, 2026, 25 companies had market values above N1 trillion, making up more than 90 per cent of the NGX’s total market capitalisation.
Source: Legit.ng
