10 Stockbroking Firms Transact N6.6trn Worth Of Stocks In 11 Months

Ten brokerage firms facilitated transactions valued at N6.6 trillion on the Nigerian Exchange (NGX) between January and November 2025.

The 10 stockbroking firms are: Cardinalstone Securities Limited, Chapel Hill Denham Securities Ltd, Stanbic IBTC Stockbrokers Limited, First Securities Brokers Limited and Cordros Securities Limited.

Others are: Meristem Stockbrokers Limited, EFG Hermes Nig Limited, APT Securities And Funds United Capital Securities Limited and CSL Stockbrokers Limited.

These 10 stockbroking firms were responsible for 62.57 per cent of the total value of stocks traded on the NGX from January to November 2025, according to a broker performance report released by the bourse.
Reviewing the performance, Cardinalstone Securities traded stocks worth N2.05 trillion or 19.39 per cent of the total value traded on the NGX in the 11 months of 2025.

Chapel Hill Denham Securities traded N962.2billion or 9.11per cent of total transactions, while Stanbic IBTC Stockbrokers had about N690.24 billion or 6.54per cent of total transactions in the period under review.

First Securities Brokers came fourth, accounting for stocks worth N616.44 billion, or 5.84 per cent, in the 11 months of 2025. Cordros Securities ranked fifth, accounting for N571.7 billion, or 5.41 per cent of the value of stock traded. In comparison, EFG Hermes accounted for N436.18 billion, or 4.13 per cent of the value of transactions in the period under review.

The report also showed that Meristem Stockbrokers traded stocks worth N427.75 billion or 4.05 per cent of the total value reported in the 11 months of 2025. APT Securities & Funds traded stocks worth N341.56 billion or 3.24 per cent, and United Capital Securities accounted for N279.94 billion or 2.65 per cent of the total value of stocks traded on the Exchange between January and November 2025.

Additionally, CSL Stockbrokers accounted for N232.96 billion, or 2.21 per cent, of transactions, according to the report by NGX.

On the top 10 brokers list by volume, Chapel Hill Denham Securities traded $43.5 billion, or 11.14 per cent of the $191.56 billion in transactions during the period under review.

Cardinalstone Securities came second by volume, accounting for 37.6 billion or 9.64 per cent of the volume of stocks traded in 11 months of 2025.

Analysts noted that most firms’ transactions were inflows from Foreign Portfolio Investors (FPIs), domestic institutional investors and stock exposure in mutual funds.

“Their major clients are foreign portfolio investors, while a few of them have significant stock exposure through collective Investment Schemes (CIS), through which they access a high volume of trading every day.”