Nigeria’s stock market saw a significant concentration of trading activity among its leading brokerage firms between August 17 and 21, 2026, with the top 10 stockbrokers accounting for 59.26 per cent of total market value across all asset classes on the Nigerian Exchange Limited (NGX).
In the equities market, the concentration was similarly strong, as the top 10 brokers generated 59.89 per cent of total transaction value during the five-day trading period. First Securities Brokers Limited led the pack with N30.04bn in transactions, representing 9.52 per cent of the market, followed by Imperial Asset Managers Limited with N28.57bn and CardinalStone Securities Limited with N26.58bn.
The fixed income market recorded an even sharper concentration. The top 10 stockbrokers controlled 96.41 per cent of total trade value, with Coronation Securities Limited and Vetiva Capital Management Ltd each recording N1.38bn. Apel Asset Limited followed with N20.57m, while Finmal Finance Company Limited and Smadac Securities Limited also featured among the leading firms.
Exchange-traded funds (ETFs) also recorded strong dominance by a handful of brokers, with the top 10 accounting for 89.06 per cent of total transaction value. Lambeth Capital Limited led the segment with N330.88m, representing 27.41 per cent of total ETF trades, while CardinalStone Securities and Stanbic IBTC Stockbrokers ranked second and third respectively.
Overall, the figures highlight the growing influence of major brokerage firms in Nigeria’s capital market, as investors continue to channel substantial transactions through established operators. First Securities Brokers maintained the overall lead with N30.05bn, followed by Imperial Asset Managers with N28.57bn and CardinalStone Securities with N26.79bn, reinforcing the dominant role of leading stockbrokers in driving activity on the NGX.
source: punch
