Economy
These Are 184 Authorised, Active Stockbrokers in Nigeria
By Dipo Olowookere
The business of trading in stocks on the Nigerian Stock Exchange (NSE) is incomplete without the input of stockbrokers.
These are the agents given the authority to transact equities on the platform and anyone planning to trade their shares for cash must approach them before such can be successful.
In this report, Business Post is bringing to its readers the brokerage firms empowered to trade stocks on behalf of investors in the nation’s capital market.
There are 184 active stockbroking firms presently operating in the country and most of them are domiciled in Lagos, the commercial capital of Nigeria. They are listed below in alphabetical order:
Afrinvest Securities Limited, Anchoria Investment & Securities Ltd, Apel Asset Limited (Formerly Apel Asset & Trust Limited), APT Securities & Funds Limited, ARM Securities Limited, Arthur Stevens Asset Management Ltd, Associated Asset Managers Limited and Atlass Portfolio Limited.
Barclays Stockbrokers Nigeria Limited, Bauchi Investment Corporation Securities Limited, Belfry Investment & Securities Limited and Bestworth Assets & Trust Limited.
Calyx Securities Limited, Camry Securities Limited, Capital Assets Limited, Capital Bancorp Plc, Capital Express securities Limited, Capital Trust Brokers Limited, CardinalStone Securities Limited (Formerly Plural Securities Limited), Cashcraft Securities Limited, Cashville Investments & Securities Ltd, CDL Capital Markets Limited and Centre Point Investment Limited.
Century Securities Limited, Chapel Hill Denham Securities Limited, Chartwell Securities Limited, Citi Investment Capital Limited, City Code Trust & Invest Company Ltd, Compass Investments & Sec. Ltd, Cordros Securities Limited, Core Securities Limited, Coronation Securities Limited, CowrySecurities Ltd, Crane Securities Limited, Crossworld Securities Limited, Crown Capital Limited and CSL Stockbrokers Limited.
Deep Trust & Investment Limited, De-Lords Securities Limited, Dominion Trust Limited, DSU Brokerage Services Limited, Dunbell Securities Limited, Dunn Loren Merrifield Securities Limited and Dynamic Portfolio Limited.
EDC Securities Limited, Edgefield Capital Management Limited, EFG Hermes Nigeria Limited, El-Elyon Alliance and Securities Ltd, Elixir Securities Limited (Formerly known as Merit Securities Limited), Enterprise Stockbrokers Limited, Equity Capital Solutions Limited, Eurocomm Securities Limited and Express Portfolio Services Limited.
Falcon Securities Limited, FBC Trust & Securities Limited, FBNQuest Securities Limited, FCSL Asset Management Company Limited, Fidelity Finance Company Limited, Financial Trust Company Nigeria Limited, Finmal Securities Limited, First Integrated Capital Management Ltd, FIS Securities Limited, Foresight Securities & Investment Limited and Forte Financial Limited.
Forthright Securities & Investments Limited, Fortress Capital Limited, FSDH Securities Limited, FSL Securities Limited, Funds Matrix & Asset Management Limited, Fundvine Capital & Securities Limited and Futureview Securities Limited.
Gidauniya Invest & Sec Ltd, Global Asset Management (Nig) Ltd, Globalview Capital Limited, Golden Securities Limited, Greenwich Securities Limited, Growth & Development Asset Management Limited, Gruene Capital Limited (Formerly Mc-Finerco Investment Limited) and GTI Securities Limited.
Harmony Investment & Securities Ltd, Heartbeat Investments Limited, Hedge Securities & Investment Ltd, Helix Securities Limited and Heritage Capital Markets Limited.
ICMG Securities Limited, Icon Stockbrokers Limited, Imperial Assets Managers Limited, Integrated Trust & Investments Limited, Interstate Securities Limited, Investment One Stockbrokers Int’l Ltd (formerly GTB Securities Limited), Investors & Trust Company Limited, Kapital Care Trust & Securities Limited, Kedari Capital Limited (Formerly Kedari Securities Ltd), Kinley Securities Limited, Kofana Securities & Investment Limited, Lambeth Capital Limited, Lead Securities & Invests Ltd and Lighthouse Asset Management Limited.
Magnartis Finance & Investment Limited, Mainstreet Bank Securities Limited, Maxifund Investment & Securities Plc, MBC Securities Limited, MBL Financial Services Limited, Mega Equities Limited, Meristem Stockbrokers Limited, Midas Stockbrokers Limited, Milestone Capital Management Limited (Formerlly Ocean Securities & Stockbrokers Ltd), Mission Securities Limited, Molten Trust Limited, Morgan Capital Securities Limited and Mountain Investment & Securities Ltd.
Network Capital Limited (Formerly Crescent Capital Limited), Networth Securities & Finance Ltd, Newdevco Invests & Sec. Co. Ltd, Nigerian International Securities Ltd, Nigerian Stockbrokers Limited and Osborne Capital Markets Limited.
PAC Securities Limited, Peace Capital Markets Limited, Pilot Securities Limited, Pinefields Investment Services Limited, PIPC Securities Limited, Pivot Capital Limited, Planet Capital Limited (Merger between Emerging Capital and Strategy & Arbitrage Limited), Portfolio Advisers Limited, Premium Capital and Stockbrokers Limited, Primewealth Capital Limited, Prominent Securities Limited, Pyramid Securities Limited, Qualinvest Capital Limited (Formerly Independent Securities Limited) and Quantum Zenith Securities & Investments Limited.
Rainbow Securities Limited, Readings Investment Limited, Regency Assets Management Ltd, Rencap Securities (Nig) Limited, Resort Securities Limited, Reward Investment & Service Ltd, RMB Nigeria Stockbrokers Limited, Rostrum Investment & Sec. Ltd, Rowet Capital Management Limited, Royal Crest Finance Limited, Royal Guaranty & Trust Ltd, Royal Trust Securities Limited, Sankore Securities Limited, Santrust Securities Limited, Securities & Capital Management Company Limited (formerly Fountain Securities Limited) and Securities Africa Financial Limited (Formerly Skye Stockbrokers Limited).
Security Swaps Limited, Shalom Investment & Securities Limited, Shelong Investment Limited, Sigma Securities Limited, Signet Investment & Securities Ltd, Skyview Capital Limited, Smadac Securities Limited, Solid Rock Securities & Investment Plc, Spring Board Trust & Investment Limited, Spring Trust & Securities Limited, Stanbic IBTC Stockbrokers Limited and Standard Union Securities Ltd.
Tellimer Capital Limited, TFS Securities & Investment Co. Ltd, The Bridge Securities Limited, Tiddo Securities Limited, Tomil Trust Limited , Topmost Sec Ltd, Tower Securities & Invest Co. Ltd, Trade link Securities Limited, Traders Trust & Investment Co. Limited, Transworld Investment & Securities Limited, Trust Yields Securities Limited, Trustbanc Capital Management Limited (Formerly IMTL Securities Limited), Trusthouse Investment Limited, TRW Stockbrokers Limited and Tyndale Securities Limited (formerly Truebond Capital & Asset Mgt Ltd).
UIDC Securities Limited, UNEX Capital Limited, Union Capital Markets Limited, United Capital Securities Limited (formerly UBA Securities Limited), Valmon Securities Limited, Valueline Securities & Investments Limited, Vetiva Securities Limited, WCM Capital Limited, WSTC Securities Limited and Zion Stockbrokers & Securities Limited.
By Aduragbemi Omiyale
The series 1 of the N10 billion Commercial Paper (CP) issuance of Legend Internet Plc recorded an oversubscription of 19.7 per cent from investors.
This reaffirmed the strong confidence in the company’s financial stability and growth trajectory.
The exercise is a critical component of Legend Internet’s N10 billion multi-layered financing programme, designed to support its medium- to long-term growth.
Proceeds are expected to be used for broadband infrastructure expansion to deepen nationwide penetration, optimise the organisation’s working capital for operational efficiency, strategic acquisitions that will strengthen its market position and accelerate service innovation.
The telecommunications firm sees the acceptance of the debt instruments as a response to its performance, credit profile, and disciplined operational structure, noting it also reflects continued trust in its ability to execute on its strategic vision for nationwide digital infrastructure expansion.
“The strong investor participation in our Series 1 Commercial Paper issuance is both encouraging and validating. It demonstrates the market’s belief in our financial integrity, operational strength, and long-term vision for digital infrastructure growth. This support fuels our commitment to building a more connected, competitive, and digitally enabled Nigeria.
“This milestone is not just a financing event; it is a strategic enabler of our expansion plans, working capital needs, and future acquisitions. We extend our sincere appreciation to our investors, advisers, and market partners whose confidence continues to propel Legend Internet forward,” the chief executive of Legend Internet, Ms Aisha Abdulaziz, commented.
Also commenting, the Chief Financial Officer of Legend Internet, Mr Chris Pitan, said, “This achievement is powered by our disciplined financing framework, which enables us to scale sustainably, innovate continuously, and consistently meet the evolving needs of our customers.
“We remain committed to building a future where every connection drives opportunity, productivity, and growth for communities across Nigeria.”
By Adedapo Adesanya
President Bola Tinubu will, on Friday, present the 2026 Appropriation Bill to a joint session of the National Assembly.
The presentation, scheduled for 2:00 pm, was conveyed in a notice issued on Wednesday by the Office of the Clerk to the National Assembly.
According to the notice, all accredited persons are required to be at their duty posts by 11:00 am on the day of the presentation, as access into the National Assembly Complex will be restricted thereafter for security reasons.
The notice, signed by the Secretary, Human Resources and Staff Development, Mr Essien Eyo Essien, on behalf of the Clerk to the National Assembly, urged all concerned to ensure strict compliance with the arrangements ahead of the President’s budget presentation.
The 2026 budget is projected at N54.4 trillion, according to the approved 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
Meanwhile, President Tinubu has asked the National Assembly to repeal and re-enact the 2024 appropriation act in separate letters to the Senate and the House of Representatives on Wednesday and read during plenary by the presiding officers.
The bill was titled Appropriation (Repeal and Re-enactment Bill 2) 2024, involving a total proposed expenditure of N43.56 trillion.
In a letter dated December 16, 2025, the President said the bill seeks authorisation for the issuance of a total sum of N43.56 trillion from the Consolidated Revenue Fund of the Federation for the year ending December 31, 2025.
A breakdown of the proposed expenditure shows N1.74 trillion for statutory transfers, N8.27 trillion for debt service, N11.27 trillion for recurrent (non-debt) expenditure, and N22.28 trillion for capital expenditure and development fund contributions.
The President said the proposed legislation is aimed at ending the practice of running multiple budgets concurrently, while ensuring reasonable – indeed unprecedentedly high – capital performance rates on the 2024 and 2025 capital budgets.
He explained that the bill also provides a transparent and constitutionally grounded framework for consolidating and appropriating critical and time-sensitive expenditures undertaken in response to emergency situations, national security concerns, and other urgent needs.
President Tinubu added that the bill strengthens fiscal discipline and accountability by mandating that funds be released strictly for purposes approved by the National Assembly, restricting virement without prior legislative approval, and setting conditions for corrigenda in cases of genuine implementation errors.
The bill, which passed first and second reading in the House of Representatives, has been referred to the Committee on Appropriations for further legislative action.
By Adedapo Adesanya
The federal government has imposed an immediate nationwide ban on the export of wood and allied products, revoking all previously issued licenses and permits to exporters.
The announcement was made on Wednesday by the Minister of Environment, Mr Balarabe Lawal, during the 18th meeting of the National Council on Environment in Katsina State.
Mr Lawal said the directive, outlined in the Presidential Executive Order titled Presidential Executive Order on the Prohibition of Exportation of Wood and Allied Products, 2025, became necessary to curb illegal logging and deforestation across the country.
“Nigeria’s forests are central to environmental sustainability, providing clean air and water, supporting livelihoods, conserving biodiversity, and mitigating the effects of climate change,” the Minister said, warning that the continued exportation of wood threatens these benefits and the long-term health of the environment.
The order, published in the Extraordinary Federal Republic of Nigeria Official Gazette No. 180, Vol. 112 of 16 October 2025, relies on Sections 17(2) and 20 of the 1999 Constitution (as amended), which empower the state to protect the environment, forests, and wildlife and prevent the exploitation of natural resources for private gain.
Under the new policy, security agencies and relevant ministries are expected to enforce a total clampdown on illegal logging activities nationwide.
On his part, the Katsina State Deputy Governor, Mr Faruk Lawal Jobe highlighted the state’s history of pioneering socio-economic policies that have influenced national policy. He emphasized the importance of collaboration in addressing environmental challenges across the country.
“Environmental sustainability is critical to achieving growth and improving the quality of life of our people,” he said. “Our administration has prioritised initiatives aimed at combating desertification and promoting afforestation.”
The ban reflects the government’s commitment to safeguarding Nigeria’s shrinking forest cover and addressing climate change, while ensuring sustainable use of natural resources for future generations.
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