The Nigerian Exchange Group (NGX) has published its performance report detailing the top ten stockbrokers in Nigeria for the first quarter of 2025.
This report ranks brokers according to the volume and value of trades executed on their platforms.
Notably, these leading stockbrokers collectively accounted for 51.69% of the total trading volume on the exchange, executing an impressive 41.04 billion shares during the quarter.
In terms of transaction value, they represented a substantial 65.79% of the overall total, contributing N1.47 trillion to the quarter-to-date figures.
For this analysis, value was deemed a more accurate measure of performance than volume. While volume tracks the number of shares traded, value reflects the price of those shares, providing a clearer picture of a stockbroker’s size, client base, and overall business performance.
Based on the value of shares transacted from January 1, 2025, to March 28, 2025, the top ten stockbrokers in Nigeria are as follows:
Top 10 stockbrokers by transaction value in Q1 2025
10. First Securities Brokers Limited (N38.11 billion)
First Securities Brokers Limited secured the 10th position this quarter, achieving a transaction value of N38.11 billion. This amount represented 1.70% of the total trades executed by all Nigerian stockbrokers.
Within the group of top 10 brokers, First Securities accounted for 2.59% of the cumulative value, which totaled N1.47 trillion.
9. Apel Asset Limited (N39.32 billion)
Apel Asset Limited ranked 9th with a transaction value of N39.32 billion, contributing 1.76% to the overall N2.2 trillion transacted among Nigerian stockbrokers.
Among the top 10, Apel Asset represented 2.68% of the collective transaction value, totaling N1.47 trillion.
8. Global Asset Management-NIG Limited (N42.6 billion)
In 8th place, Global Asset Management recorded a transaction value of N42.6 billion for Q1 2025, constituting 1.91% of the total transactions by stockbrokers in Nigeria.
This stockbroker provided 2.90% of the total value among the top 10 brokers and ranked 4th in trading volume with 4.2 billion shares facilitated.
7. Coronation Securities Limited (N58.04 billion)
Coronation Securities Limited occupied the 7th position with a transaction value of N58.04 billion in Q1 2025, which represented 2.60% of the overall N2.2 trillion transacted by all stockbrokers in Nigeria.
Among the top 10, Coronation accounted for 3.94% of the total value, which summed N1.47 trillion, while ranking 9th in trading volume with 2.18 billion shares facilitated.
6. Cordros Securities Limited (N81 billion)
Cordros Securities Limited ranked 6th, reporting a transaction value of N81 billion in Q1 2025. This stockbroker contributed 3.62% of the total N2.2 trillion value transacted by all stockbrokers.
In the context of the top 10, Cordros represented 5.52% of the overall value, totaling N1.47 trillion, and ranked 2nd in trading volume with 5.96 billion shares enabled.
5. Meristem Stockbrokers Limited (N83.74 billion)
In 5th place, Meristem Stockbrokers Limited recorded a transaction value of N83.74 billion for the quarter, which equated to 3.74% of the cumulative N2.2 trillion transacted by all stockbrokers in Nigeria.
This stockbroker represented 5.68% of the total reported by the top 10 brokers and ranked 6th in trading volume, facilitating 3.58 billion shares.
4. Stanbic IBTC Stockbrokers Limited (N107.4 billion)
Stanbic IBTC positioned 4th with a transaction value of N107.4 billion for the first quarter of 2025, accounting for 4.81% of the overall trades by Nigerian stockbrokers.
This stockbroker made up 7.30% of the total value transacted by the top 10 brokers while ranking 7th in trading volume with 2.82 billion shares exchanged.
3. Apt Securities and Funds (N144.46 billion)
Apt Securities ranked 3rd with a transaction value of N144.46 billion for the quarter, constituting 6.46% of the N2.2 trillion transacted by all stockbrokers in Nigeria.
This stockbroker accounted for 9.81% of the total value reported among the top 10 brokers and ranked 8th in trading volume, having facilitated 2.21 billion shares.
2.CardinalStone Securities Limited (N196.50 billion)
CardinalStone Securities Limited placed 2nd, facilitating trade valued at N196.50 billion in Q1 2025. This contribution amounted to 8.79% of the total N2.2 trillion value transacted by all stockbrokers in Nigeria.
Within the top 10, CardinalStone constituted 13.36% of the total value and ranked 3rd in trading volume with 5.42 billion shares facilitated.
1. Chapel Hill Denham Securities Ltd (N680.21 billion)
Chapel Hill Denham Securities ranked first, with a transaction value of N680.21 billion for the first quarter of 2025. This figure constituted 30.41% of the total transactions conducted by all Nigerian stockbrokers.
Chapel Hill Denham accounted for 46.19% of the cumulative value among the top 10 brokers, totaling N1.47 trillion, and led in trading volume, facilitating 9.46 billion shares.
