Mobile trading is changing the way Nigerians participate in the stock market, with Bamboo accounting for about 22 per cent of the 17.3 million equity deals recorded on the Nigerian Exchange Limited (NGX) between January and July 2026. The figure means more than one in every five equity transactions during the seven-month period was processed through Bamboo’s Nigerian brokerage partner, Lambeth Capital Limited.
The numbers offer a clear picture of how digital investment platforms are bringing more retail investors into the market. Lambeth Capital recorded 3.85 million deals, the highest number among leading brokers, although the total value of those transactions stood at N262.99 billion. Its average transaction was about N68,300, highlighting a market increasingly driven by smaller trades rather than only large institutional investments.
That stands in sharp contrast to brokers handling bigger institutional transactions. CardinalStone Securities recorded the highest equity value among the leading brokers, with N1.63 trillion traded across 944,888 deals. First Securities Brokers, meanwhile, led the overall broker ranking with a 13.5 per cent weighted market share, recording an average transaction size of about N5.94 million.
The growing influence of retail investors is also visible in wider NGX figures. Domestic retail investors traded N2.86 trillion worth of equities between January and May 2026, representing a 138 per cent increase from the same period in 2025. Retail investors accounted for about 36 per cent of equity trading during the period, while domestic institutional investors remained ahead at N4.06 trillion.
For the Nigerian stock market, the shift could be significant. Mobile platforms are lowering the barrier to entry and allowing people with smaller amounts of money to participate more easily and more frequently. Analysts say this could strengthen market liquidity and reduce dependence on institutional investors, but they also warn that increased participation must come with better financial education, sound risk management and informed investment decisions. As mobile investing continues to grow, traditional stockbrokers may also face pressure to offer simpler digital services, easier account opening and lower-cost access to attract the next generation of Nigerian investors.
source: The guardian
