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.
Other News
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.
The Bridge Securities Limited – M-BRD
The Bridge Securities Limited claimed the 10th spot by transaction value in January 2026, executing trades worth N17.3 billion.
- This marks a notable entry to the rankings, as the broker was absent from the list during the same month last year.
- Its trades accounted for 2.00% of the total market value of N865 billion and represented 3.79% of the N457.7 billion handled by the top 10 brokers that month.
While the broker’s facilitated volume did not place it among the top 10 by volume, its position on the value list indicates that the shares it handled were significant in monetary terms.
LambethCapital Limited
Lambeth Capital Limited secured the 9th position by transaction value in January 2026, executing trades worth N22.1 billion.
- This marks an entry for the broker, as it did not feature on the rankings during the same month last year.
- The trades accounted for 2.56% of the total market value of N865 billion and 4.83% of the N457.7 billion handled by the top 10 brokers in January.
Lambeth Capital also made a strong showing in terms of volume, ranking 4th by shares facilitated with 1.38 billion units, representing 4.31% of the total volume transacted by all brokers.
This dual presence highlights the broker’s strength in both trade value and market activity.
Morgan Capital Securities Limited
Morgan Capital Securities ranked 8th by transaction value in January 2026, executing trades worth N26.2 billion.
This is up from N14.8 billion in January 2025, when it accounted for 2.44% of total market value, rising to 3.04% this year and reflecting stronger participation on the exchange.
- The broker also performed strongly by volume, ranking 3rd with 1.79 billion shares facilitated.
This represented 5.59% of all shares traded by brokers, demonstrating that Morgan Capital commands both significant value and high trading activity.
APT Securities and Funds – BRD
APT Securities and Funds held the 7th spot by transaction value in January 2026, executing trades worth N31.06 billion.
- This accounted for 3.59% of the total value of N865 billion handled by allstock brokers.
- The figure represents a decline from January 2025, when the broker recorded N44.4 billion in trades, or 7.30% of total market value.
- Unlike last year, when it ranked 5th by volume with 1.3 billion shares facilitated, APT Securities did not appear on the volume rankings in 2026.
Nonetheless, its presence among the top value brokers highlights that the trades it executed were substantial in monetary terms.
Cordros Securities Limited – BRD
Cordros Securities Limited occupied the 6th spot by transaction value, executing trades worth N35.8 billion in January 2026.
- This accounted for 4.14% of the total value executed by all stock brokers, which stood at N865 billion, and 7.83% of the value handled by the top 10 brokers on the list.
- The performance represents a modest increase compared to January 2025, when Cordros executed N31.79 billion in trades, equivalent to 5.22% of overall market transactions.
- In terms of volume, the broker made the rankings in 2026 by facilitating 844.4 million shares, representing 2.63% of all units exchanged by Nigerian stock brokers.
This is an improvement from the previous year, when Cordros did not feature on the volume list.
EFG Hermes Nigeria Limited
EFG Hermes Nigeria Limited ranks 5th by transaction value, executing trades worth N45.9 billion in January 2026.
This accounted for 5.31% of the total value executed by all stock brokers, and 10.04% of the value handled by the top 10 brokers on the list.
- The performance marks a significant improvement over January 2025, when the broker executed N14.4 billion in trades, representing just 2.37% of overall market transactions.
- Although EFG Hermes did not appear on the volume list in 2026, just as in the same month the previous year, it remained active in the market.
The broker’s absence from the volume rankings shows that, while the number of units traded was not among the highest, the trades it executed were substantial in value.
Meristem Stockbrokers Limited
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.
First Securities Brokers Limited
First Securities Brokers Limited ranked 3rd by transaction value in January 2026, executing trades worth N55.5 billion.
- This accounted for 6.42% of the total value executed by all stock brokers and 12.13% of the N457.7 billion handled by the top 10 brokers.
- The performance is particularly impressive, as the broker did not feature on the value list in January 2025.
This strong showing indicates that the units First Securities facilitated were substantial enough to secure a top position by value, illustrating both the scale and impact of its trades.
StanbicIBTC Stockbrokers Limited
Stanbic IBTC Stockbrokers Limited secured the second-highest transaction value in January 2026, executing trades worth N74.2 billion.
- This accounted for 8.58% of the N865 billion total value exchanged by all stock brokers and 16.22% of the N457.7 billion handled by the top 10 brokers.
- The result reflects strong growth compared to January 2025, when the broker recorded N46.1 billion in trades while also occupying the second spot.
On the volume front, Stanbic IBTC handled 951.4 million shares, placing it 8th, slightly below the 1 billion shares facilitated in 2025.
This shows that while the number of shares traded was lower, the trades executed were substantial in size and value.
CardinalStone Securities Limited
CardinalStone Securities Limited led all brokers in transaction value in January 2026, executing trades worth N98.09 billion.
- This accounted for 11.33% of the total value exchanged by all stock brokers and 21.43% of the value handled by the top 10 brokers.
- The performance marks a notable improvement over January 2025, when CardinalStone also topped the list but recorded N89.3 billion in trades.
- Volume performance mirrored its value dominance, with the broker facilitating 3.5 billion shares, topping the volume chart for the month.
This is an increase from January 2025, when it handled 2.3 billion shares and ranked second, highlighting growth in both trading value and activity.
