A look at Nigeria's Top Performing Stockbroking Firms

Overview 

Professional stockbrokers, securities dealers, portfolio and funds managers, and financial and investment analysts in Nigeria are governed, certified, and licensed by the Chartered Institute of Stockbrokers (CIS), which has been active on the Nigerian Stock Exchange since 1990.

Nigeria currently has over 150 active stockbroking firms, and we take a look at their latest performance based on the value of their portfolio and the volume they move so far in 2023.

The List

The 10 stockbroking firms listed have brokered shares worth over 8 billion units valued at around N128 billion in the first two months of 2023.

They are equally responsible for 69.04% of the total volume of units and 67.90% of the total value within the same time frame according to the annual broker performance report of February 2023 published by the Nigerian Exchange Group (NGX).

As the time the market closed on February 28, 2023, the All-Share Index was at 55,806.26 an 8.89% gain, which is lower than 10.95% by last year's February 28th closing.

1. At the top of the list is the APT Securities and Fund-BRD, with a stock traded value of N52.531 billion in January compared to 18.77% of the total stocks traded on the floor of the exchange for February 2022 valued at around N35 billion. 

2. Cardinal Stone Comes Second on the List in terms of value, with N25 billion in total traded value in February 2023 which amounts to 13.34% traded on the exchange's floor.

3. The third position goes to Stanbic IBTC Stockbrokers Limited which accounts for about 10% of total traded shares valued at N19.25 billion on the exchange's floor in February 2023.

4. The number four top-performing stockbroking firm by value is Pack Securities Limited with a total traded stock value of N12.584 making up 6.64% of the total shares traded on the NGX floor.

5. EFG Hermes Nigeria Limited has the 5th highest valued amount of the total traded shares on the floor of the exchange with 4.15% worth N8.55 billion.

6. Sixth is CORDROS Securities Limited - BRD, with a stock value of N7.842 billion which amounts to less than 4% of the total traded shares on the exchange floor.

7. CSL Stockbrokers Limited with a traded value worth N5.415 billion, less than 2% of the total traded on the floor comes seventh

8. Stonex Financial Nigeria Limited is in the 8th position with a traded value of N5.223 billion 

9. Chapel Hill Denham Securities Limited is 9th with N4.490 billion worth of traded shares value.

10. The tenth position goes to Rencap Securities Nigerian Limited with N4.56 billion in value of trade shares.

In terms of Volume (Name of Company and Volume)

1. APPEL Asset Limited (5.739 Billion Units)

2. Cardinal Stone Securities Limited (737.994 Million Units)

3. APT Securities and Fund - BRD (513.006 Million Units)

4. Morgan Capital Securities (390.805 million)

5. Stanbic IBTC Stockbrokers Limited (362.192 Million)

6. Meristem Stockbrokers Limited (279.144 Million)

7. EFG Hermes Nigeria Limited (160.136 Million)

8. Chapel Hill Denham Securities Limited (146.139 Million)

9. CSL Stockbrokers Limited (132.840 Million)

10. PAC Securities Limited (130,140 Million)