The Nigerian Exchange (NGX) released its January 2026 broker performance report, ranking stockbroking firms by transaction volume and value, during a month in which the market gained 6.27%.
Although stockbrokers do not typically determine market direction, they play a critical role in facilitating liquidity by executing trades for investors responding to market conditions and trends.
According to the report, top brokers traded 14.4 billion shares in January, representing 45.13% of total volume, slightly below the 15.4 billion shares recorded in January 2025.
However, in value terms, activity was stronger, with the top 10 stockbroking firms executing N457.7 billion in trades, accounting for 52.88% of total market value.
This represents a significant rise from N341.6 billion in January 2025, indicating that bigger, more impactful trades drove activity, not just higher trading volumes.
This article prioritizes transaction value, as it better reflects the scale and market impact of trades rather than simply the number of transactions executed.
Below are the best-performing stockbroking firms by transaction value for the period spanning 1 January 2026 to 30 January 2026.
Meristem Stockbrokers occupied the 4th spot by transaction value in January 2026, executing trades worth N51.2 billion.
- Trades accounted for 5.92% of the N865 billion total value executed by all stock brokers and 11.2% of the N457.7 billion handled by the top 10 brokers.
- January 2026 marked a great improvement compared to January 2025, when the broker executed N31.71 billion, representing just 5.21% of total market transactions.
Volume rankings also reflected growth, with Meristem facilitating 2.1 billion shares, or 6.77% of total units traded, moving up from 1.6 billion shares and a 5th-place ranking in January 2025.
