Tier-one lender, First Bank of Nigeria (FBN) Holdings Plc, has announced the completion of the sale of its entire 100% equity interest in FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP, a special-purpose vehicle owned by Custodian Investment Plc, Aion Capital, and Evercorp Industries Limited.
This was contained in a corporate disclosure filed with the Nigerian Exchange Group (NGX) on Friday, November 28, 2025.
The corporate communication was in accordance with the NGX Rulebook and the Securities and Exchange Commission (SEC) Acts.
According to a statement by the Group’s Secretary, Abiola Baruwa, the transaction has been finalised after obtaining all necessary regulatory approvals from the Central Bank of Nigeria (CBN).
The company’s share price closed at N31.05, shedding 0.2% for the day. The share price has appreciated by 10.7% this year, ranking it the 99th best-performing NGX stock on a Year-to-Date basis.
First HoldCo is the ninth most traded stock on the Nigerian Exchange group in the last three months, with a total volume of 1.2 billion shares traded in 23,128 deals, valued at N37.3 billion.
The firm has an equity capitalisation of N1.11 trillion, making it one of the most valued Banks in Nigeria and a member of the popular FUGAZ Group (First Bank, UBA, GT Bank, Access Bank, and Zenith Bank), the top leading Banks in Nigeria.