KEY POINTS

• CardinalStone Securities NGX milestone marks a first in Nigerian brokerage history.
• The firm led transaction values during a year of record equity returns.
• Top brokers executed nearly 62 percent of total market value.

In 2025, CardinalStone Securities Limited made history in Nigeria’s financial sector by being the first stockbroking firm to do more than ₦2 trillion ($1.4 billion) in deals on the Nigerian Exchange in a single calendar year.

Data from the NGX broker performance report show the firm, led by Managing Director Peter Omoregie, crossed the threshold after earlier surpassing ₦1 trillion in trades, another first for a Nigerian broker within the same year. The performance cemented CardinalStone Securities’ position as the exchange’s largest broker by transaction value.

The milestone comes during a year of renewed investor activity and record equity returns, underscoring the growing depth of Nigeria’s domestic capital market and the role of institutional intermediaries in sustaining liquidity.

CardinalStone Securities NGX hits record volumes

Michael Nzewi, co-founder and chief executive of CardinalStone Partners Limited, said the achievement reflects sustained client confidence and execution strength in a competitive environment.

“It underscores the trust our clients place in us and the resilience of domestic capital in driving market activity,” Nzewi said, adding that the firm remains focused on research-led execution and market development.

Omoregie said leading the NGX by transaction value demonstrates the firm’s capacity to adapt as market conditions evolve. He pointed to continued efforts to deepen liquidity and support institutional participation across Nigeria’s equities market.

CardinalStone Securities NGX drives market liquidity

The record-setting performance coincided with a historic rally in Nigerian equities. The NGX All-Share Index gained 51.19 percent in 2025, its strongest annual return in 18 years and well ahead of the S&P 500’s 16.39 percent gain.

According to Billionaires Africa, CardinalStone accounted for 18.3 percent of total value traded on the exchange, ahead of rivals including Chapel Hill Denham Securities, Stanbic IBTC Stockbrokers, First Securities Brokers and Cordros Securities. NGX figures show the top 10 brokers executed ₦7.3 trillion ($5.13 billion) in trades, representing nearly 62 percent of total market value.

Founded in 2008, CardinalStone has expanded into a multi-asset investment firm spanning securities trading, asset management and investment banking, while building ties with international investors. The group is also raising a $120 million private equity fund targeting growth-stage businesses across West Africa.