NGX Group wins Africa’s Best Exchange award as market activity rises

KEY POINTS

• Nigerian Exchange Group received Africa’s Best Exchange award at the Euromoney Markets Awards 2026 in London.
• NGX Invest facilitated more than ₦2.8 trillion in capital raising during the banking sector recapitalisation exercise.
• The NGX All-Share Index gained 59.07 per cent year-to-date as of October 16, 2026.
• The Group is pursuing digital access, faster settlement, regional market connectivity and sustainable finance initiatives.

MAIN STORY

Nigerian Exchange Group Plc (NGX Group) has been named Africa’s Best Exchange at the Euromoney Markets Awards 2026, as rising equities market activity and digital investment platforms expand the Nigerian capital market.

The award was presented at the Mandarin Oriental Hyde Park in London on Thursday, October 15, recognising the Group’s market development achievements in 2025, including its work on market infrastructure, technology adoption and capital formation.

A major part of its digital strategy is NGX Invest, an electronic platform that enables investors to subscribe to public offers and rights issues. The platform facilitated more than ₦2.8 trillion in capital raising during Nigeria’s banking sector recapitalisation exercise.

By September 2026, NGX Invest had expanded its distribution network to more than 180 channels, including stockbrokers, banks and fintech companies. A WhatsApp subscription channel has also provided investors with another route to participate in public offers.

The Group’s recognition comes amid increased activity on the Nigerian equities market. In 2025, the NGX All-Share Index gained 51.19 per cent, while equities turnover rose by 109.48 per cent to ₦5.96 trillion. Market capitalisation reached ₦99.38 trillion.

The upward momentum continued in 2026. As of October 16, the All-Share Index had gained 59.07 per cent year-to-date. Equities turnover stood at ₦7.82 trillion, representing a 73.78 per cent increase from ₦4.50 trillion recorded during the corresponding period of 2025. Market capitalisation reached ₦160.73 trillion.

NGX Group Managing Director and Chief Executive Officer Temi Popoola said the award reflected the Group’s efforts to strengthen the infrastructure and technology supporting capital formation and investment.

He said the Group would continue working to widen digital access, improve market efficiency and strengthen connections with other African markets.

THE ISSUES

The expansion of digital investment channels could make public offers more accessible to retail investors who might otherwise face difficulties participating through traditional subscription processes. However, the growth of the market also raises questions about the breadth of participation and whether increased trading activity translates into more businesses accessing long-term funding.

For Nigerian companies, an efficient capital market can provide an alternative to bank borrowing and help fund expansion. For investors, market performance offers opportunities but does not remove the risks associated with share-price volatility and investment losses.

The Group is also pursuing sustainable finance through its NGX Net-Zero Programme, implemented with DEG Impulse gGmbH and Africa Foresight Group, with support from DEG Impulse’s develoPPP programme. The initiative helps Nigerian businesses prepare for climate-related requirements, establish science-based emissions-reduction targets and develop transition plans that could support access to climate-aligned financing.

More than 50 companies have engaged with the programme, with 19 joining as community members.

WHAT’S BEING SAID

“This award reflects our continued commitment to strengthening the infrastructure and technology that support capital formation and investment. We appreciate the trust and collaboration of our regulators, policymakers, issuers, investors, the stockbroking community and other market participants, whose support contributes to the development of our capital market. By widening digital access to investment opportunities, improving market efficiency and deepening connections with other African markets, we are working to make our capital market more accessible, resilient and competitive. We see this not simply as an achievement, but as encouragement to keep building a market that can mobilise capital for businesses and offer broader investment opportunities.” – Temi Popoola, Group Managing Director and Chief Executive Officer, NGX Group.

WHAT’S NEXT

NGX Group’s market development agenda includes improving post-trade efficiency and strengthening cross-border investment links. Nigeria moved to T+1 settlement in June 2026, shortening the period between trade execution and settlement.

The Group is also pursuing strategic engagements with other African exchanges to strengthen regional market connections and facilitate cross-border investment.

BOTTOM LINE

NGX Group’s award comes amid strong gains in Nigerian equities and expanding digital access to public offers. The longer-term test will be whether these developments help more businesses raise capital, broaden meaningful investor participation and improve the efficiency of Nigeria’s capital market.