The Nigerian Exchange published its Q1 2026 broker performance report, ranking stockbrokers based on the value and volume of trades executed during the period.

According to the report, total transactions facilitated by Nigerian stockbrokers reached N4.17 trillion in value, with the top 10 firms accounting for 53.65%, equivalent to N2.2 trillion.

The Exchange also reported a cumulative trading volume of 117.9 billion shares, of which 48.59% was executed by the top 10 brokers featured on the volume ranking.

In Q1 2026, the Nigerian equities market delivered a 29.35% return, driven largely by trading activities facilitated by stockbrokers at the core of market participation.

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Against this backdrop, the stockbrokers in this report are ranked by transaction value, as it reflects not only the number of shares traded but also the financial weight and significance of those transactions.

Below are the top 10 stockbroking firms by transaction value, covering trades executed between January 1, 2026 and March 31, 2026.

APT Securities and Funds- BRD — N95.6 billion 

APT Securities and Funds ranked 10th in Q1 2026, facilitating trades valued at N95.6 billion over the period.

This performance represents 2.29% of the total N4.17 trillion market transactions and 4.27% of the N2.2 trillion executed by the top 10 stockbrokers.

In Q1 2025, the firm ranked 3rd by value with N144.46 billion and 8th by volume, having facilitated 2.21 billion shares.

Although it did not feature among the top 10 by volume in Q1 2026, the value of trades executed remained strong enough to secure its place in the ranking.

PAC Securities Limited — N106.5 billion 

PAC Securities Limited occupied the 9th position in Q1 2026, executing trades worth N106.5 billion, driven largely by high-value transactions on the Nigerian Exchange.

This accounts for 2.55% of total stockbrokers’ transactions and 4.76% of the N2.2 trillion contributed by the top 10 brokers.

Although it did not feature on the top volume chart, its activity remained firmly value-driven, reflecting strong participation in sizeable market deals.

United Capital Securities Limited— N134.5 billion 

United Capital Securities Limited closed Q1 2026 in the 8th position, facilitating trades worth N134.5 billion on the Nigerian Exchange.

This contribution represents 3.23% of total stockbrokers’ transactions and 6.01% of the N2.2 trillion generated by the top 10 firms.

On the volume side, the firm also made the leaderboard, enabling 2.73 billion shares and placing 10th among all stockbrokers by volume.

This performance reflects a clear improvement from Q1 2025, when it did not appear on the value chart published by the Exchange.

CSL Stockbrokers Limited— N144.3 billion 

CSL Stockbrokers Limited advanced to the 7th position in Q1 2026, executing trades worth N144.3 billion on the Nigerian Exchange.

This accounts for 3.46% of total market transactions and 6.45% of the N2.2 trillion generated by the top 10 stockbrokers.

The firm also recorded strong activity on the volume chart, coming in 3rd with 8.07 billion shares traded, representing 6.85% of total facilitated volume.

This reflects a marked improvement from Q1 2025, when it was absent from the value ranking compiled by the Exchange.

First Securities Brokers Limited— N203.5 billion 

In the 6th position is First Securities Brokers Limited, facilitating trades worth N203.5 billion in Q1 2026 on the Nigerian Exchange.

Contributing 4.88% of total stockbrokers’ transactions and 9.09% of the N2.2 trillion generated by the top 10 firms, the performance reflects its market depth.

The firm also maintained a strong presence on the volume chart, coming 6th with 4.1 billion shares enabled, representing 3.55% of total market volume.

This reflects a notable improvement from Q1 2025, when it ranked 10th by value with N38.11 billion in transactions.

Meristem Stockbrokers Limited— N229.2 billion 

Meristem Stockbrokers Limited secured the 5th position in Q1 2026, executing trades worth N229.2 billion on the Nigerian Exchange.

This represents 5.49% of total stockbrokers’ transactions and 10.2% of the N2.2 trillion contributed by the top 10 firms.

The firm showed strength on the volume chart, rising to 2nd place with 9.9 billion shares traded, accounting for 8.47% of total volume.

This performance is consistent with Q1 2025, when it also held the 5th position by value with N83.74 billion and ranked 6th by volume with 3.58 billion shares.

EFG Hermes Nigeria Limited— N254.8 billion 

EFG Hermes Nigeria Limited came in 4th place in Q1 2026, facilitating trades worth N254.8 billion on the Nigerian Exchange.

Accounting for 6.11% of total stockbrokers’ transactions and 11.39% of the N2.2 trillion generated by the top 10 firms, the performance highlights its strong value concentration in the market.

Although it did not feature on the volume chart, its value-driven execution ensured a solid presence among the market’s leading facilitators, improving from 2025 when it was absent from the top 10 ranking.

Stanbic IBTC Stockbrokers Limited— N282.4 billion 

Stanbic IBTC Stockbrokers Limited finished 3rd in Q1 2026, facilitating trades worth N282.4 billion on the Nigerian Exchange.

This performance represents 6.77% of total stockbrokers’ transactions and 12.62% of the N2.2 trillion contributed by the top 10 firms, showing its strong market footprint.

The firm also appeared on the volume chart, ranking 7th with 3.2 billion shares traded, slightly below its 2.82 billion shares recorded in Q1 2025.

On the value side, however, its N282.4 billion showing marks a sharp improvement from N107.4 billion in Q1 2025, when it held the 4th position.

CordrosSecurities Limited — N283.6 billion 

Occupying the 2nd position is Cordros Securities Limited – BRD, recording trades worth N283.6 billion in Q1 2026 on the Nigerian Exchange.

This translates to 6.80% of total stockbrokers’ transactions and 12.68% of the N2.2 trillion contributed by the top 10 firms, reflecting its strong value footprint.

Despite the value performance, the associated share volume was not sufficient to place it among the top 10 by volume, unlike Q1 2025, when it ranked 2nd with 5.96 billion shares enabled.

On the value side, however, the N283.6 billion recorded reflects a great improvement from N81 billion in Q1 2025, when it held the 6th position.

CardinalStone Securities Limited — N503.2 billion 

CardinalStone Securities Limited leads the Q1 2026 value chart, executing trades worth N503.2 billion on the Nigerian Exchange.

With a 12.06% share of total stockbrokers’ activity and 22.48% of the N2.2 trillion generated by the top 10 firms, it accounts for a significant portion of market value.

The firm also dominated the volume ranking, with 13.3 billion shares exchanged, representing 11.29% of total market turnover across all brokers.

Compared to Q1 2025, this reflects a significant leap from N196.5 billion in value and 5.42 billion shares, where it held 2nd by value and 3rd by volume.