The Nigerian Exchange (NGX) has released its January 2026 Broker Performance Report, spotlighting the top stockbroking firms that dominated trading activity during a strong start to the year for Nigerian equities.
January saw the market gain 6.27%, reflecting heightened investor interest and robust trading volumes.
Market Context
January’s performance marked a significant improvement over the same period last year, with overall market gains driven by strong sector rallies and increased activity.
The top stockbrokers played a central role in facilitating these trades, handling a combined ₦457.7 billion in transaction value just over half of the market’s total tradable value.
Top 10 Stockbrokers by Transaction Value
The list below ranks the leading stockbroking firms on the Nigerian Exchange based on the value of trades executed from 1 January to 30 January 2026. This ranking reflects not only trade volume but also the economic impact and scale of deals facilitated by each broker.
1. CardinalStone Securities Limited
CardinalStone claimed the top position, executing the highest value of trades in January 2026 a performance that underscores its dominant role in Nigeria’s equities market.
2. Stanbic IBTC Stockbrokers Limited
Maintaining a strong position among market intermediaries, Stanbic IBTC delivered one of the largest transaction values in January, highlighting its ongoing influence.
3. First Securities Brokers Limited
Consistently among the top performers, First Securities Brokers continued to drive substantial market activity through institutional and retail trades.
4. Meristem Stockbrokers Limited
Meristem delivered strong execution numbers, securing its place in the top tier of Nigerian brokers by trade value.
5. EFG Hermes Nigeria Limited
EFG Hermes rounded out the upper half of the top 10, contributing meaningful value to the market during January’s active trading sessions.
6. Cordros Securities Limited
Cordros continued its tradition of strong brokerage performance, particularly in large trades and institutional orders.
7. APT Securities and Funds
Another key player in the market, APT Securities demonstrated meaningful participation across high-value trades.
8. Morgan Capital Securities Limited
Morgan Capital’s presence in the top 10 underscores its ongoing relevance in Nigeria’s equity trading ecosystem.
9. LambethCapital Limited
LambethCapital’s inclusion reflects its growing footprint, particularly in the execution of noteworthy trading volumes in January.
10. The Bridge Securities Limited
Making the list for the first time, The Bridge Securities rounded out the month’s top brokers by transaction value, showing notable growth compared with January 2025.
What This Means for the Market
While brokers don’t determine market direction, their role in executing trades and facilitating liquidity is central especially in months of heightened investor activity.
The concentration of trading among the top 10 brokers highlights how a small group of firms continues to shape market dynamics on the NGX.
January 2026’s rankings reflect not just high trade volumes but the significant value of transactions, indicating that institutional activity and larger deals were key drivers of market momentum during the period.
Image Credit: Nairametics
Source: Nairametrics
