Ten stockbroking firms dominated trading activity on the Nigerian Exchange (NGX) in April 2026, executing a combined N949.899 billion in transactions. This accounted for more than half of total market trades during the month, highlighting their strong influence on market liquidity and investor activity.
The firms collectively handled 52.37% of all trades on the exchange, reinforcing their central role in Nigeria’s capital market. In terms of volume, they also processed 16.194 billion shares, representing 47.63% of total shares traded between April 1 and April 30, 2026.
Leading the pack was Cardinalstone Securities Limited with N321.994 billion in transactions. It was followed by Cordros Securities Limited with N124.064 billion and Stanbic IBTC Stockbrokers Limited with N104.198 billion. Other major contributors included EFG Hermes Nigeria, Meristem Stockbrokers, First Securities Brokers, Coronation Securities, United Capital Securities, Lambeth Capital, and QCapital Limited.
The strong brokerage performance coincided with a historic market rally, as the NGX posted a 20.36% gain in April—its best monthly performance on record. Analysts attributed this surge to improved naira stability, clearer banking recapitalisation policies, and extended trading hours, all of which boosted liquidity and investor confidence.
Market experts say the current momentum reflects broader economic optimism, with both foreign and local companies outperforming expectations. They also note that a stronger stock market is helping businesses raise capital more easily, which could translate into job creation and long-term economic growth if the trend continues.