
CardinalStone Securities Limited has cemented its status as the leading force in Nigerian stockbroking by emerging as the number one stockbroker by volume and value on the Nigerian Exchange (NGX) for 2024.
This remarkable achievement marks the third consecutive year the firm has dominated the NGX league tables, underscoring its unparalleled commitment to excellence, innovation, and client-focused solutions.
The 2024 Broker Performance Report released by the NGX highlights the influential role of the top 10 brokers, who collectively drove nearly 55 per cent of the total market value between January 2 and December 31, 2024.
CardinalStone Securities claimed an impressive 12.19 per cent share of the market value, translating to ₦696.03 billion, and a staggering 8.51 per cent of the total market volume with 23.67 billion shares traded.
The rankings reflect the firm’s dual mastery of highvalue transactions and highfrequency trades, positioning it as a versatile leader in the capital market.
Trailing CardinalStone in value rankings were Stanbic IBTC Stockbrokers Limited with N642.82 billion (11.26%) and United Capital Securities Limited, which contributed N341.06 billion (5.98%).
In volume terms, Stanbic IBTC followed with 14.99 billion shares traded, representing 5.39 per cent, while Morgan Capital Securities Limited took third place with 13.81 billion shares (4.96%).
Other key players, including Cordros Securities, APT Securities, and Meristem Stockbrokers, also made their mark on both value and volume rankings.
Reflecting on the firm’s performance, Michael Nzewi, Group Managing Director of CardinalStone, expressed his pride in the milestone.
“This achievement is not just a testament to our consistency but a reflection of the vision and values that drive the CardinalStone Group. Innovation, integrity, and delivering unparalleled value remain at the core of our operations,” Nzewi stated.
Echoing this sentiment, Peter Omoregie, Managing Director of CardinalStone Securities, credited the firm’s success to teamwork and client trust.
“Topping the NGX league tables for three consecutive years is a result of our relentless focus on excellence. This accomplishment reflects the dedication of our talented team and the unwavering support of our clients.
“We are committed to setting new benchmarks for performance and service delivery in Nigeria’s capital markets,” Omoregie affirmed.
CardinalStone Securities’ continued dominance solidifies its role as a trailblazer in shaping Nigeria’s financial landscape.
As the firm looks to 2025 and beyond, its performance sets a high bar for competitors while reinforcing investor confidence in the Nigerian Exchange’s growth potential.