In four months to April 30, ten stockbroking firms accounted for equities deals worth N1.024trillion or 54.11 percent of the total value of stocks traded on the Nigerian Exchange Limited (NGX) in same period.

According to Broker Performance Report by the Nigerian Exchange Limited (NGX), ten stockbroking firms that traded this value of equities in the review four months period are: CardinalStone Securities Limited, Stanbic IBTC Stockbrokers Limited, United Capital Securities Limited, Apt Securities and Funds, EFG Hermes Nigeria Limited, Meristem Stockbrokers Limited, Cordros Securities Limited, Chapel Hill Denham Securities Limited, Apel Asset Limited, and Morgan Capital Securities Limited.

CardinalStone Securities Limited led the league of top ten brokers by value of trade after trading stocks worth N197.535billion or 10.43 percent of the total value of equities traded same period. Stanbic IBTC Stockbrokers Limited followed after accounting for equities deals worth N185.330billion or 9.79percent. United Capital Securities Limited came third on the list accounting for equities trade worth N126.715billion or 6.69 percent.

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Other are: Apt Securities and Funds (N110.305billion or 5.82percent), EFG Hermes Nigeria Limited (N96.783billion or 5.11percent), Meristem Stockbrokers Limited (N73.650billion or 3.89 percent), and Cordros Securities Limited (N73.143billion or 3.86 percent).

Also, other top-ten stockbrokers by value of stocks they traded in the four months period under review are Chapel Hill Denham Securities Limited (N57.149billion or 3.02percent; Apel Asset Limited (N53.635billion or 2.83percent), and Morgan Capital Securities Limited (N50.605billion or 2.67percent).

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By Iheanyi Nwachukwu • May 14, 2024

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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