The Nigerian capital market’s efficiency is underpinned by a select group of registrars who manage the equity and debt registers of the nation’s largest corporations.
These firms serve as the primary link between listed entities and their shareholders, overseeing dividend distributions, share certificate dematerialization, and corporate action processing.
The following represent the top 10 registrars currently dominating the Nigerian Exchange (NGX) ecosystem, along with a snapshot of the major companies they serve:
1. Africa Prudential PlcA technology-driven leader in the sector, Africa Prudential manages registers for a vast array of high-cap stocks, including United Bank for Africa (UBA), BUA Cement, BUA Foods, United Capital, Transcorp Group, and CSCS Plc.
2. First Registrars & Investor Services Limited Renowned for its extensive retail reach and institutional stability, First Registrars handles the books for heavyweights such as Nigerian Breweries, Oando, Fidelity Bank, Stanbic IBTC Holdings, PZ Cussons, and Cadbury Nigeria.
3. CardinalStone Registrars Limited Formerly City Securities Registrars, this firm maintains a high-prestige portfolio including Lafarge Africa (WAPCO), Okomu Oil Palm, FCMB Group, TotalEnergies Marketing Nigeria, and Livestock Feeds.
4. United Capital Registrars LimitedOperating as a subsidiary of the United Capital Group, they provide critical support for several investment funds and corporate entities, including Heirs Insurance, and manage various fixed-income instruments and equity registers for mid-to-high cap firms.
5. Coronation Registrars LimitedRecently recognized for its digital innovation, Coronation Registrars serves the Coronation Insurance group and has rapidly acquired clients in the financial services and emerging tech sectors listed on the exchange.
6. Meristem Registrars & Probate Services LimitedMeristem manages a diverse set of industrial and insurance clients, most notably Nascon Allied Industries, Berger Paints, Conoil, Custodian Investment, and Neimeth International Pharmaceuticals.
7. GTL Registrars and Data SolutionsA key player in the Yaba financial corridor, GTL manages the records for several heritage brands and specialized firms, including May & Baker Nigeria and various state government bond series.
8. Veritas Registrars (formerly Zenith Registrars)This firm remains a major force in the market, primarily serving the Zenith Bank ecosystem and its associated corporate entities, maintaining one of the largest shareholder bases in the country.
9. PAC Registrars LimitedAs the registrar arm of PanAfrican Capital Holdings, they manage registers for diverse sectors, including firms like Caverton Offshore Support Group and several specialized investment vehicles.
10. All Crown Registrars LimitedA long-standing player in the industry, All Crown manages the books for established industrial companies such as BOC Gases Nigeria and Greif Nigeria, alongside several private equity registers.
Source: Nairametrics
