A complete list of stockbrokers in Nigeria – 2025 guide

After deciding to start investing in the Nigerian stock market, an important decision one has to make is choosing the right stockbroker. 

Periodically, the Nigerian Exchange Limited (NGX), one of the leading financial market infrastructure providers in Africa, updates its list of licensed stockbrokers, removing inactive ones and adding new approved firms. 

Knowing which brokers are active, regulated, and reliable is crucial for protecting your investment and making informed decisions.

In this guide, we’ve pulled together a complete and updated list of stockbrokers in Nigeria for 2025. Whether you’re a beginner or seasoned investor, this list will help you find trusted brokers to work with. 

List of approved stockbrokers in Nigeria

To trade a security listed on the Nigerian Exchange Limited (NGX), you must sign up with any of the Trading License Holder Firms. 

At the time of the report, the NGX published a total of 100 active stockbrokers.  Here’s a list in alphabetical order: 

1. Absa Securities Nigeria Limited
2. Afrinvest Securities Limited
3. Anchoria Securities Limited
4. Apel Asset Limited
5. APT Securities & Funds Limited
6. ARM Securities Limited
7. Arthur Stevens Asset Management Limited
8. Associated Asset Managers Limited
9. Atlass Portfolio Limited
10. Ava Securities Limited
11. Bauchi Investment Corporation Securities Limited
12. Belfry Investment & Securities Limited
13. Bestworth Assets & Trust Limited
14. Calyx Securities Limited
15. Camry Securities Limited
16. Capital Assets Limited
17. Capital Bancorp Plc
18. Capital Express Securities Limited
19. Capital Trust Brokers Limited
20. CardinalStone Securities Limited
21. Cashville Investments & Securities Limited
22. CDL Capital Markets Limited
23. Centre Point Investment Limited
24. Century Securities Limited
25. Chapel Hill Denham Securities Limited
26. Chartwell Securities Limited
27. Citi Investment Capital Limited
28. City Code Trust & Invest Company Limited
29. Compass Investments & Securities Limited
30. Cordros Securities Limited
31. Core Securities Limited
32. Coronation Securities Limited
33. Cowry Securities Limited
34. Crane Securities Limited
35. Crossworld Securities Limited
36. Crown Capital Limited
37. CSL Stockbrokers Limited
38. De-Lords Securities Limited
39. DLM Securities Limited
40. Dominion Trust Limited
41. DSU Brokerage Services Limited
42. Dunbell Securities Limited
43. Dynamic Portfolio Limited
44. EDC Securities Limited
45. Edgefield Capital Management Limited
46. EFG Hermes Nigeria Limited
47. El-Elyon Alliance and Securities Limited
48. Equity Capital Solutions Limited
49. Eurocomm Securities Limited
50. Express Portfolio Services Limited
51. Falcon Securities Limited
52. FBC Trust & Securities Limited
53. FCSL Asset Management Company Limited
54. Fidelity Finance Company Limited
55. Financial & Analytics Capital Limited
56. Financial Trust Company Nigeria Limited
57. Finmal Finance Services Limited
58. First Integrated Capital Management Limited
59. First Securities Brokers Limited
60. FIS Securities Limited
61. Foresight Securities & Investment Limited
62. Forte Financial Limited
63. Forthright Securities & Investments Limited
64. Fortress Capital Limited
65. FSDH Capital Limited
66. FSL Capital Limited
67. Funds Matrix & Asset Management Limited
68. Fundvine Capital & Securities Limited
69. Futureview Securities Limited
70. GDL Stockbrokers Limited
71. Gem Assets Management Limited
72. Gidauniya Invest & Sec Limited
73. Global Asset Management (Nig) Limited
74. Globalview Capital Limited
75. Golden Securities Limited
76. Greenwich Securities Limited
77. Gruene Capital Limited
78. GTI Securities Limited
79. Harmony Investment & Securities Limited
80. Heartbeat Investments Limited
81. Hedge Securities and Investments Company Limited
82. Heritage Capital Markets Limited
83. ICMG Securities Limited
84. Icon Stockbrokers Limited
85. Imperial Assets Managers Limited
86. Integrated Trust & Investments Limited
87. Interstate Securities Limited
88. Investment One Stockbrokers Int’l Limited
89. Investment Shark & Asset Management Limited
90. Investors & Trust Company Limited
91. ITIS Securities Limited
92. Kapital Care Trust & Securities Limited
93. Kedari Capital Limited
94. Kinley Securities Limited
95. Kofana Securities & Investment Limited
96. Kundila Finance Services Limited
97. Lambeth Capital Limited
98. Lead Securities & Investment Limited
99. Lighthouse Asset Management Limited
100. Magnartis Finance & Investment Limited

On the NGX platform, you can find inactive brokers or those that have been deregistered by the Securities and Exchange Commission (SEC). 

What’s the role of these stockbrokers?

Stockbrokers in Nigeria are licensed professionals or firms that assist individuals and institutions in buying and selling shares (stocks), bonds, and other investment products on the NGX. 

Think of them as the middlemen between you and the stock market. You can’t directly buy stocks on NGX unless you go through a registered broker.

What exactly do they do?

1. Execute Trades: When you want to buy or sell shares, you place an order through your broker, and they execute that trade on the NGX platform.
2. Give Investment Advice: Many brokers offer market insights, reports, and personal recommendations based on your financial goals. For example, a broker might advise you to invest in banking stocks during a period of strong economic growth.
3. Open and Manage CSCS Accounts: They help open your Central Securities Clearing System (CSCS) account, like a bank account for your shares. This account holds your stocks safely and shows your ownership.
4. Provide Market Access: Brokers often offer online platforms (such as websites or apps) that enable you to monitor the market, trade, and view your investment history.

Choosing a stockbroker to trade securities depends on what services you want. You can also explore the Best trading platforms in Nigeria (2025) – BrokerChooser to compare top brokers, app features, and fee structures

What are the best performing stockbrokers on the nigerian exchange?

In Nigeria, brokers are ranked primarily by two metrics: volume and value of securities traded.

• Share volume refers to the total number of shares traded within a specific period. It’s a helpful gauge of market participation and liquidity, where higher volumes often signal strong investor interest and a more active market.
• Share value, on the other hand, reflects the monetary worth of those trades. It is a more meaningful metric because it captures not just activity but also the financial weight behind transactions, mirroring broader factors such as company performance, market sentiment, and macroeconomic trends.

In our previous and most recent series, we spotlight Nigeria’s top-performing stockbrokers, as ranked by the NGX, based on transaction value—a metric that offers a deeper and more strategic view of broker influence on the market.

United Capital Securities Limited (UBAS) and EFG Hermes Nigeria Limited (EFG) topped the list with transaction values of $69.94 million and $44.43 million, respectively, in May. 

How to open a stock trading account in Nigeria (step-by-step)

Thanks to digital platforms, many stockbrokers now let you open an account right from your phone or computer. Here’s how to go about it:

Step 1: Pick a registered stockbroker

Start by selecting a licensed broker from the Nigerian Exchange (NGX) list. This is the company that will help you buy and sell stocks safely. 

Choose one that suits your needs. Some offer mobile apps for beginners, while others offer more advanced trading tools.

Step 2: Go to their website or physical office

Once you’ve chosen a broker, visit their official website. Most brokers allow you to open an account online. Alternatively, you can also visit their office to get started.

Step 3: Fill out the registration form

You’ll need to provide some basic information like:

• Your full name
• Email and phone number
• Residential address
• Bank account details

Step 4: Upload or submit your documents

To verify your identity, you’ll need to provide:

• A valid means of ID (e.g., National ID, Voter’s Card, Passport, or Driver’s License)
• A passport photograph
• A utility bill (not older than 3 months)
• Your Bank Verification Number (BVN)

Step 5: Wait for approval

Your application will be reviewed. Approval usually takes 1 to 3 business days. This really depends on the platform. 

Step 6: Add funds and start trading

Once your account is active, deposit funds using a bank transfer or payment method provided by your broker. You’re now ready to start investing in shares on the NGX.