Nigerian Trade (NGX) brokerage knowledge for the primary full buying and selling week of 2026 week ended January 9, 2026, reveals that the highest 10 stockbrokers accounted for 54.52% of whole market quantity and 48.83% of whole market worth.
CardinalStone Securities Restricted (CSSL) emerged as essentially the most energetic dealer each quantity and worth as market exercise remained closely concentrated amongst a small group of dealing corporations together with Stanbic IBTC Stockbrokers, Meristem, and Cordros Securities.
Others are Atlass Portfolios, Afrinvest Securities, and Reward Funding and Providers. EFG Hermes Nigeria, APT Securities and Funds, and StoneX Monetary Nigeria accomplished the highest ten brokers.
What the knowledge is saying:
NGX knowledge reveal {that a} focus of trades amongst 10 brokerage corporations accounting for 54.52% of whole market quantity and 48.83% of worth within the overview interval.
Through the week, NGX executed whole turnover of 4.164 billion shares price N94.026 billion in 248,254 offers.
Which means that the highest ten brokers executed trades amounting to N45.913 billion in transaction worth. CardinalStone Securities led decisively, accounting for twenty-four.93% of whole quantity and 11.62% of whole worth.
The sharp hole between CSSL and different brokers highlights sturdy focus in commerce execution.
Variations between quantity and worth rankings recommend distinct dealer methods, starting from high-turnover buying and selling to large-value institutional offers.
CSSL leads by a large margin
CSSL executed 2.08 billion shares, representing 24.93% of whole market quantity for the interval—by far the most important share amongst all brokers.
This implies practically one in each 4 shares traded on the NGX throughout the week handed by way of CardinalStone’s books.
The subsequent closest opponents by quantity had been Morgan Capital Securities Restricted (464.7 million shares, 5.58%) and Meristem Stockbrokers Restricted (428.1 million shares, 5.14%), each far behind the market chief.
In worth phrases, CSSL additionally ranked first, dealing with transactions price N21.91 billion, equal to 11.62% of whole market worth throughout the interval.
This twin management in each quantity and worth is notable, because it suggests the agency captured a broad mixture of high-frequency trades and large-ticket transactions.
Totally different strengths throughout brokers
Whereas some brokers ranked excessive on quantity, others featured extra prominently by worth—highlighting totally different buying and selling profiles throughout the market.
Stanbic IBTC Stockbrokers and Meristem adopted CSSL on the worth desk, buying and selling N12.78 billion and N12.73 billion respectively, regardless of not matching CSSL’s dominance in share rely. Cordros Securities additionally stood out with N10.86 billion in traded worth.
In the meantime, corporations equivalent to Atlass Portfolios, Afrinvest Securities, and Reward Funding and Providers appeared among the many prime 10 by quantity however didn’t make the highest 10 by worth, suggesting increased turnover in lower-priced shares or smaller common commerce sizes.
Conversely, EFG Hermes Nigeria, APT Securities and Funds, and StoneX Monetary Nigeria featured within the worth rating with out showing within the quantity prime 10, pointing to fewer however bigger transactions.
What you need to know
In accordance with the NGX report for full 12 months 2025, prime 10 brokers by quantity traded a mixed 223.7 billion shares, accounting for 49.41% of all broker-executed transactions throughout the one-year interval ended December 31, 2025, up from 118.95 billion within the prior 12 months.
- By transaction worth, the dominance was much more pronounced as the highest 10 brokers executed trades price N7.3 trillion, representing 61.82% of the full worth traded throughout the market, up from N3.13 trillion in 2024.
- CardinalStone Securities emerged as the highest dealer by transaction worth, executing trades price N2.18 trillion in 2025, in comparison with N696 billion in 2024.
- This represents a commanding 18.30% of whole market worth and 29.60% of the worth dealt with by the highest 10 brokers.
The agency additionally ranked 2nd by quantity, facilitating 49 billion shares, or 10.82% of whole market quantity, reinforcing its dominance throughout each worth and exercise. One full week into the brand new, the agency has sustained its clear lead.
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