INFOGRAPHICS: Top 10 Stockbrokers Drive Nearly N1tn Trades as NGX Records Historic April Rally

Ten leading stockbroking firms drove transactions worth N949.899 billion on the Nigerian Exchange (NGX) in April 2026, underscoring their central role in a record-breaking month for the equities market.

The figures, contained in the NGX broker performance report for April, showed that the firms accounted for 52.37 per cent of the total value of trades executed during the month.

Trading activity on the exchange surged between April 1 and April 30, with the NGX All-Share Index advancing by 20.36 per cent, marking its strongest monthly performance since the first quarter of 2024 and the highest gain in the exchange’s history. The rally was supported by increased market participation and improved liquidity, with stockbrokers playing a key role in executing transactions and sustaining investor confidence.

The top-performing firms by transaction value included Cardinalstone Securities Limited, Cordros Securities Limited and Stanbic IBTC Stockbrokers Limited. Cardinalstone Securities led the pack with N321.994 billion in trades, followed by Cordros Securities with N124.064 billion and Stanbic IBTC Stockbrokers with N104.198 billion.

Other firms in the top 10 were EFG Hermes Nigeria, which recorded N96.103 billion in transactions, Meristem Stockbrokers with N81.022 billion, First Securities Brokers with N49.966 billion and Coronation Securities with N47.001 billion.

United Capital Securities accounted for N45.137 billion, while Lambeth Capital and QCapital Limited recorded N41.117 billion and N39.298 billion respectively.

In terms of trading volume, the 10 firms handled a combined 16.194 billion shares, representing 47.63 per cent of the total volume traded within the period.

Market analysts attributed the strong performance in April to improved naira stability, greater clarity around bank recapitalisation and extended trading hours, all of which have helped deepen liquidity and support market activity.

Ambrose Omordion, chief operating officer of InvestData Consulting Limited, said the market’s performance reflected stronger-than-expected corporate earnings and growing investor interest.

“This achievement is particularly noteworthy as the earnings from both foreign and local companies are exceeding expectations. In the context of ongoing global challenges, including the crisis in the Middle East, the Nigerian market stands out as one of the best-performing markets both globally and in Africa, yielding attractive returns for investors,” he said.

He added that government policies have continued to shape the market’s recovery, noting that listed companies are delivering strong returns and creating opportunities for capital raising.

“Additionally, the current market environment presents a valuable opportunity for companies to raise funds. In a thriving market, businesses can more easily obtain capital, which in turn boosts employment and drives economic growth. The Nigerian stock market is playing a pivotal role in supporting this economic development, showing alignment with international standards,” Omordion said.

He expressed confidence in the outlook for the market, stating that it remains well positioned to support economic growth and wealth creation for investors.