Domestic stockbroking firm CardinalStone Securities Limited maintained its rank as the top trading house on the Nigerian Exchange (NGX) by transaction value for the fourth consecutive year.
Data compiled from trading volume reports shows CardinalStone processed more than ₦2.00 trillion ($1.55 billion) in equity transactions in 2025.
The firm’s execution share reflects strong order flow from international portfolio investors (FPI) and domestic pension fund administrators (PFAs), positioning the broker as a primary liquidity channel ahead of the ongoing ₦2.15 trillion ($1.5 billion) Dangote Petroleum Refinery IPO and Nigeria’s readmission into the FTSE Russell Frontier Market Index.
CardinalStone is serving as a joint issuing house for the landmark ₦2.15 trillion Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP).
CardinalStone’s four-year dominance underlines the concentration of institutional equity trading among top-tier domestic brokerages.
The firm consistently handles high-value block trades in mega-cap equities such as FirstHoldCo, MTN Nigeria, Guaranty Trust Holding Company (GTCO), and Zenith Bank.
CardinalStone Securities Limited is the stockbroking subsidiary of CardinalStone Partners Limited, a well-established financial services group operating across seven business segments – including asset and pension management, lending, financial advisory, stock brokerage, trust and registrars’ services.
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