Nigerian Exchange Limited (NGX) won Euromoney’s 2026 award for Africa’s best exchange after a year of sharply higher equity trading, drawing attention to Nigeria’s growing market and fundraising channels.
Euromoney listed the winner as “Nigerian Exchange” and held its awards ceremony in London on Oct. 15. NGX is the listing and trading venue owned by Nigerian Exchange Group Plc (NGX Group).
Equity turnover reached ₦5.96 trillion in 2025, more than double the previous year’s total, Euromoney said. The NGX All-Share Index gained 51.19% over the same period. Euromoney also cited stronger secondary-market trading, more accessible fundraising and a wider mix of exchange products in its assessment of the award.
The market’s overall gains continued into 2026, although the latest weekly reading was lower. The exchange’s report put the All-Share Index at 247,539.73 on Oct. 16, up 59.07% since the start of the year after a 0.33% decline for the week. Equity market capitalization stood at ₦160.725 trillion.
NGX Group has expanded access to new share offerings through NGX Invest, a digital subscription platform launched in 2024. In a Sept. 23 announcement, the group said the platform had supported more than 23 primary-market transactions and more than ₦3 trillion in capital raising. It also introduced a WhatsApp subscription channel, which the company said gives investors another route to public offers and issuers a wider reach.
Separately, Nigeria’s Securities and Exchange Commission (SEC) moved eligible equities and commodities transactions cleared and settled by the Central Securities Clearing System to settlement one business day after a trade on June 1. The change shortened the T+2 cycle that began Nov. 28, 2025. The SEC said the faster process was intended to improve efficiency and reduce the risk that a trading counterparty fails to meet its obligations.
