NGX Group profit jumps 83% to N20.6bn as more Nigerians trade online
- NGX Group's pre-tax profit rose 83.3% to N20.6bn in the first nine months of 2026.
- Transaction fees more than doubled to N20.7bn as retail investors joined through digital platforms.
- United Capital also reported a 66% rise in pre-tax profit to N41.58bn for the same period.
Nigerian Exchange Group Plc (NGX Group) reported a pre-tax profit of N20.6 billion for the first nine months of 2026, up 83.3 per cent from N11.2 billion in the same period last year.
Profit after tax rose 86.4 per cent to N14.7 billion, according to the unaudited results. That is already about 40 per cent more than the group's entire profit after tax for 2025, with three months still to go.
The biggest driver was transaction fees, which more than doubled to N20.7 billion from N9.7 billion. Listing fees also grew 24.4 per cent to N3.7 billion.
NGX Group said retail investors are increasingly using digital self-service channels, from opening an account to placing orders, on platforms connected to the exchange.
Why it matters to ordinary Nigerians
More retail investors means more Nigerians now hold shares directly, alongside pension funds and institutions. The NGX All-Share Index gained 61.43 per cent between January and September, and the value of listed equities rose from N99.38 trillion in December 2025 to N163.10 trillion.
That is paper wealth for anyone holding shares or units in funds that track the market. It is not cash in hand, and share prices can fall as well as rise.
Group Managing Director Temi Popoola said more Nigerians are investing, and more of them are doing it digitally. He said the wider participation had "more than doubled our transaction revenue and is creating real wealth for investors." He said the group is investing in its people, infrastructure and technology so the market can handle the next wave of investors.
Group Chairman Umaru Kwairanga said the board wants growth in products, listed companies and investor participation, matched by careful spending.
Total income grew 64.8 per cent to N29.57 billion, faster than operating expenses, which rose 56.8 per cent to N14.71 billion. The cost-to-income ratio improved to 49.7 per cent from 52.3 per cent.
Not every line grew. Other income fell 16.95 per cent to N2.31 billion on weaker market data earnings and wider foreign exchange losses of N603.30 million. Treasury investment income slipped slightly to N2.07 billion.
Earnings per share came to N5.33, after the one-for-three bonus issue shareholders approved in April 2026. Shareholders received N8.2 billion in dividends in the period, up 86.7 per cent.
Separately, United Capital Plc reported pre-tax profit of N41.58 billion for the same nine months, up 66 per cent, helped by a near-doubling of net investment income to N22.03 billion. Its earnings per share rose to 258 kobo from 157 kobo.
Its shares, however, fell about 2.1 per cent to N16.55 on Monday, 26 October, the day the results were released, and are down about 11.5 per cent since the start of the year.
What happens next
Both companies have one more quarter to report for the full year. For NGX Group, the question is whether trading volumes stay high. For United Capital, a large share of profit now comes from investment returns, which can move with interest rates and market conditions.
