The top 10 Nigerian stockbrokers recorded a combined transaction value of N862.04 billion in February 2026, reflecting the scale of activity they facilitated in the equities market.

Data obtained from the Nigerian Exchange shows this accounted for 55.57% of the total N1.55 trillion worth of trades executed by all stockbrokers during the period.

The report also ranked brokers by trading volume, with the top 10 firms handling 21.41 billion shares, representing 49.37% of total market volume.

These firms serve as key intermediaries in the equities market, executing trades and providing investor access, as the Nigerian All-Share Index gained 16.60% during the period.

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For this analysis, stockbrokers are ranked by the value of transactions executed in February 2026, as transaction value captures not only the number of shares traded but also the size and financial significance of those trades.

Below are the top 10 stockbroking firms by transaction value, covering trades executed between 1 February and 27 February 2026.

Morgan Capital Securities (N34.1 billion) 

Morgan Capital Securities placed 10th after facilitating transactions worth N34.1 billion in February 2026.

  • This represented 2.20% of the N1.55 trillion total value traded by all Nigerian stockbrokers and 3.96% of the N862 billion handled by the top 10 firms.

The firm also featured on the volume ranking, executing 2.02 billion shares, equivalent to 4.68% of total shares traded in the market.

  • In February 2025, Morgan Capital Securities ranked ninth by value with N12.7 billion in trades, meaning its February 2026 performance marked a significant improvement.

The firm also surpassed its February 2025 volume of 977.1 million shares, reflecting stronger trading activity during the latest period.

APT Securities and Funds – BRD (N39.08 billion) 

APT Securities and Funds Limited secured the ninth position after executing trades worth N39.08 billion in February 2026.

  • This accounted for 2.52% of total value traded across all Nigerian stockbrokers and 4.53% of the N862 billion handled by the top 10 firms.

The firm also ranked ninth by volume, facilitating 1.098 billion shares, representing 2.53% of total market volume during the period.

In 2025, the broker held the second spot by value, recording N42.8 billion in trades, slightly higher than its February 2026 performance.

However, trading activity strengthened in volume terms, as the 1.098 billion shares executed in 2026 surpassed the 430.9 million shares recorded in February 2025.

United Capital Securities Limited (N55.2 billion) 

United Capital Securities Limited claimed the eighth spot, facilitating transactions valued at N55.2 billion in February 2026.

This represented 3.56% of the total N1.55 trillion traded by all Nigerian stockbrokers and 6.41% of the value handled by the top 10 firms.

Although it did not appear on the volume rankings, the relatively smaller number of shares it executed carried enough magnitude to secure a spot on the top-value list.

In February 2025, the firm was absent from both volume and value rankings, highlighting a notable improvement in its 2026 performance.

First Securities Brokers Limited (N65.1 billion) 

First Securities Brokers Limited stood at seventh, facilitating trades worth N65.1 billion in February 2026.

This accounted for 4.20% of the total value traded by all Nigerian stockbrokers and 7.56% of the N862 billion handled by the top 10 firms.

Although it did not appear on the volume rankings for the month, the shares it executed carried sufficient value to earn a spot on the top-value list.

In 2025, First Securities Brokers ranked sixth by value with N15 billion in trades, significantly lower than its February 2026 performance.

Notably, the firm ranked seventh by volume in February 2025 with 568 million shares but did not feature on the volume list in 2026.

Stanbic IBTC Stockbrokers Limited (N84.2 billion) 

Stanbic IBTC Stockbrokers Limited occupied the sixth spot in February 2026, executing trades valued at N84.28 billion.

This accounted for 5.43% of the total value traded by all Nigerian stockbrokers and 9.78% of the value handled by the top 10 brokers.

The firm also featured on the volume rankings, coming in tenth with 1.093 billion shares, representing 2.52% of all shares traded in the market.

In February 2025, Stanbic IBTC ranked fifth by transaction value with N31.2 billion, highlighting the significant growth achieved in 2026.

Trading activity also strengthened in volume terms, rising from 853.6 million shares in 2025 to 1.093 billion shares in February 2026.

EFG Hermes Nigeria Limited (N86.28 billion) 

EFG Hermes Nigeria Limited claimed the fifth position in February 2026, facilitating trades worth N86.28 billion.

This represented 5.56% of the N1.55 trillion total value traded by all Nigerian stockbrokers and 10% of the N862 billion handled by the top 10 firms.

Although it did not feature on the volume rankings, the value of the shares it executed was sufficient to secure a spot among the top-value brokers.

In February 2025, EFG Hermes was absent from both the value and volume rankings, making its 2026 performance a notable improvement.

Meristem Stockbrokers Limited (N93.1 billion) 

Meristem Stockbrokers Limited stood at fourth, facilitating trades worth N93.1 billion in February 2026.

This accounted for 6% of the N1.55 trillion total value traded by all Nigerian stockbrokers and 10.8% of the N862 billion handled by the top 10 firms.

The firm also ranked second by volume, executing 2.8 billion shares, equivalent to 6.65% of total market volume.

In February 2025, Meristem also ranked fourth by value with N33.5 billion in trades, considerably lower than its February 2026 performance.

Trading activity strengthened in 2026, with volume rising to 2.8 billion shares from 1.1 billion in February 2025, which had previously secured the firm third place in the volume rankings.

CSL Stockbrokers (N96.9 billion) 

CSL Stockbrokers Limited took the third spot in February 2026, executing trades valued at N96.9 billion.

This represented 6.25% of the N1.55 trillion total value traded by all Nigerian stockbrokers and 11.25% of the N862 billion handled by the top 10 firms.

The firm also topped the volume rankings, trading 6.3 billion shares, equivalent to 14.56% of all shares exchanged in the market.

In February 2025, CSL Stockbrokers ranked tenth by value with N11.8 billion in trades, far below its 2026 performance.

Its trading volume also jumped from 609.9 million shares in 2025, which placed it sixth in the volume chart, to 6.3 billion shares in 2026.

Cordros Securities Limited – BRD (N102.07 billion) 

Cordros Securities Limited secured the second spot in February 2026, facilitating trades valued at N102.07 billion.

This accounted for 6.58% of the N1.55 trillion total value traded by all Nigerian stockbrokers and 11.84% of the N862 billion handled by the top 10 firms.

Although it did not feature on the volume rankings, the value of the shares it executed was substantial enough to earn a top-value position.

In February 2025, Cordros Securities ranked seventh by value with N13.6 billion in trades, making the 2026 performance a notable leap forward.

CardinalStone Securities Limited (N205.6 billion) 

CardinalStone Securities Limited claimed the top spot in February 2026, facilitating trades valued at N205.6 billion.

This represented 13.26% of the N1.55 trillion total value traded by all Nigerian stockbrokers and 23.86% of the N862 billion handled by the top 10 firms.

The firm also ranked third by volume, executing 2.5 billion shares, equivalent to 5.84% of all shares traded in the market.

In February 2025, CardinalStone also led the value rankings with N65.5 billion in trades, well below its 2026 performance.

It was likewise on the volume chart in 2025, trading 1.7 billion shares and ranking first, though still lower than the 2.5 billion shares recorded in February 2026.