Wema Bank Hits N1trn Valuation for First Time as Shares Rise

Midsize lender Wema Bank is the latest to join the exclusive club of listed companies with at least N1 trillion valuation as its share price rose 4.18 percent on Tuesday.

The bank saw its market capitalisation increase to N1 trillion from N960.85 billion on Monday, according to data from the Nigerian Exchange Limited. 

The top five members are BUA Foods with a market cap of N14.38 trillion, MTN Nigerian Communications (N12.01 trillion), Dangote Cement (N10.87 trillion), Airtel Africa (N8.53 trillion) and BUA Cement (N6.2 trillion).