The Nigerian Exchange (NGX) has disclosed that the top 10 stockbroking firms accounted for 70.50% of the total transaction value executed across all asset classes.
The data, released by the exchange on Friday, underscores the high degree of concentration in trading activity among leading intermediaries in the West African market.
This concentration of volume suggests that liquidity is heavily anchored by a small group of major players.
For investors, this dynamic can influence execution quality and price discovery, particularly in less liquid segments of the market.
The dominance of these firms reflects their capacity to handle large institutional orders and provide the necessary market depth.
The disclosure comes as the NGX continues a broader recovery phase.