Today, we’ll be talking about the Nigerian Stock Exchange, which is now known as the Nigerian Exchange Group. It was founded in Lagos back in 1961. Currently, the NSE has a total of 161 listed companies, divided into different categories: 8 domestic companies on the premium board, 144 on the mainboard, and 4 on the Alternative Securities Market (ASeM) board.
This article will contain formation on the follow contents:
- Nigeria stock exchange today live
- Nigerian stock market price today
- Best Nigeria stock exchange today
- Nigeria stock exchange live
- Nigeria stock exchange index
- History of Nigeria stock exchange
- Nigerian stock exchange index
- Nigeria stock exchange historical data
Let’s also look at the Fixed Income market offered by the NSE. They provide various bond options, including 84 FGN (Federal Government of Nigeria) bonds, 21 state bonds, 27 corporate bonds, 1 supranational bond, and 53 memorandum listings.
If you understanding the structure and offerings of the Nigerian Exchange Group is essential as it plays a significant role in facilitating investment and capital flow in the Nigerian economy.
Mission Statement
Alright, everyone, let us discuss the mission of the Nigerian Stock Exchange (NSE). Their primary goal is to make it easier for businesses and investors to access capital reliably.
Additionally, the NSE aims to offer secure saving systems and create a structured environment that fosters efficient business operations. This mission is important as it helps support economic growth and development in Nigeria by facilitating investment and financial stability.
History of Nigerian Exchange Group
Let us discuss the history of the Nigerian Stock Exchange, which is the oldest stock exchange in West Africa. It was founded as the Lagos Stock Exchange on September 15, 1960. The exchange officially started operations on August 25, 1961, with 19 securities listed for trading, but informal operations had begun earlier in June 1961.
The initial subscribers to the Exchange’s Memorandum of Association were seven individuals and companies, including R.S.V. Scott, representing C.T. Bowring and Co. Nigeria Ltd., Chief Theophilus Adebayo Doherty, John Holt Ltd, Investment Company of Nig. Ltd. (ICON), Sir. Odumegwu Ojukwu, Chief Akintola Williams, and Alhaji Shehu Bukar.
During its early days, the operations were conducted inside the Central Bank building, and there were four firms acting as market dealers: Inlaks, John Holt, C.T. Bowring, and ICON (Investment Company of Nigeria). The trading volume in August 1961 was about 80,500 pounds and increased to around 250,000 pounds in September of the same year, with most investments focused on government securities.
In December 1977, the Lagos Stock Exchange was renamed The Nigerian Stock Exchange, and branches were established in major commercial cities across the country. Fast forward to 2021, following its demutualization, the NSE launched a new brand identity and became known as the Nigerian Exchange Group, with the non-operating holding company NGX Group Plc being created.
That’s a brief overview of the history of the Nigerian Stock Exchange and its evolution into the Nigerian Exchange Group. Keep in mind that stock exchanges play a crucial role in facilitating trading and investment in financial markets.
Operations Methods of Nigerian Stock Exchange Group
In our economics class article, let’s look into the operations of the Nigerian Stock Exchange (NSE) group. Since April 27, 1999, the NSE has been using an Automated Trading System (ATS), where dealers trade through a computer network. In 2013, they launched the X-Gen trading platform to enable electronic trading for both retail and institutional segments.
The NSE’s trading hours are from 9.30 a.m. to 2.30 p.m., Monday to Friday. Market prices, including the All-Share Index, NSE 30, and Sector Indices, are published daily in various sources like The Stock Exchange Daily Official List, The Nigerian Stock Exchange CAPNET (an intranet facility), newspapers, and the stock market page of the Reuters Electronic Contributor System. Historical price and performance data are also available on the NSE website.
To attract foreign investment into Nigeria, the government removed legislation that restricted the flow of foreign capital into the country. As a result, foreign brokers can now enlist as dealers on the Nigerian Stock Exchange, and investors from any nationality are free to invest. Nigerian companies are also allowed to list on foreign markets.
In the interest of transparency and building trust in the capital market, the NSE reconstituted the Investors’ Protection Fund in 2012. The fund’s purpose is to compensate investors who suffer financial loss due to specific reasons, such as revocation or cancellation of a dealing member’s registration, insolvency or bankruptcy of a dealing member, or defalcation committed by a dealing member or any of its directors, officers, employees, or representatives. This measure is essential in fostering investor confidence and safeguarding their interests.
Regulation
The NSE is regulated by the Nigerian Securities and Exchange Commission.
Leadership and subsidiaries
Now, let’s learn about the leadership and structure of the Nigerian Exchange Group (NGX). The NGX is currently led by Oscar N. Onyema as the Group Chief Executive. After the demutualization and rebranding in 2021, the NGX comprises three wholly owned subsidiaries:
- Nigerian Exchange Limited (NGX): This is the operating exchange where trading activities take place.
- NGX Regulation Limited (NGX REGCO): This is an independent securities regulator responsible for overseeing and ensuring compliance with regulations in the exchange.
- NGX Real Estate Limited (NGX RELCO): This is a real estate company that handles property-related matters for the group.
In October 2022, the NGX Board announced the appointment of Dr. Umaru Kwairanga as the new Chairman and Mr. Oluwole Adeosun as the Vice Chairman. Understanding the leadership and organizational structure of the Nigerian Exchange Group is essential to grasp how the exchange operates and ensures proper regulation and governance.
Indices
Now that we understand the structure of NSE, let’s move on to explore the indices maintained by the Nigerian Exchange (NSE). The main index is the value-weighted All-Share Index, which was formulated in January 1984 with a base value of 100 (January 3, 1984). The highest value ever recorded for this index was 66,371.20, which occurred on March 3, 2008.
Apart from the All-Share Index, the NSE also uses the NSE-30 Index, which is a sample-based capitalization-weighted index. Additionally, there are five sector indices: the NSE Consumer Goods Index, NSE Banking Index, NSE Insurance Index, NSE Industrial Index, and NSE Oil/Gas Index. These indices help investors and analysts track the performance of specific sectors within the Nigerian market.
Trust me, understanding these indices is crucial as they provide valuable insights into the overall market trends and sector-specific performance in the Nigerian stock exchange.
Associations
It is time to talk about the international affiliations of the Nigerian Exchange. The NGX is a member of the World Federation of Exchanges (WFE), which is a global association of regulated exchanges. It also participates as an observer at meetings of the International Organization of Securities Commissions (IOSCO), a global body that sets international standards for securities regulation.
Moreover, the NGX is a founding member of the African Stock Exchanges Association (ASEA), an organization that promotes cooperation among African stock exchanges. On October 31, 2013, the NGX joined the Sustainable Stock Exchanges Initiative (SSE), which focuses on advancing sustainable and responsible business practices in the capital market.
These affiliations and memberships highlight the NGX’s commitment to international collaboration, adherence to global standards, and promotion of sustainable and responsible investment practices.
NGX Real Estate Limited (NGX RELCO)
This is for managing your investment property. We will be talking about the NGX Real Estate Limited (NGX RELCO), a wholly owned subsidiary of the Nigerian Exchange Group (NGX Group). NGX RELCO was incorporated as a private limited company in Nigeria on June 29, 1974. The company’s primary business is acquiring, leasing, hiring, or part exchanging any property, whether real or personal.
NGX RELCO takes a personalized approach to property management, recognizing that they are not just managing valuable assets, but also very personal ones. They cater to private and institutional investors, property owners, and developers, providing reliable management services to nurture capital growth and maximize returns.
The company carefully analyzes and understands every aspect of the properties it manages, ensuring that its management practices enhance their value. This focus on enhancing property value is vital for investors and stakeholders seeking to optimize their real estate investments.
Property Letting
They currently provide best-in-class service to our customers, consistently meeting the highest standards in sales and lettings.
Real Estate Investment
Whether you are an individual, corporation or government agency; the NGX RELCO experience will work for you.
Facilities Management
As manager of one of the best-managed facilities in Lagos, they are committed to providing grade A services customised to suit all clients’ needs.
List of African Stock Exchanges
As we move on, we will take look at some facts about stock exchanges in Africa. There are a total of 29 stock exchanges in Africa, representing capital markets from 38 different nations.
Out of these 29 exchanges, 21 are members of the African Securities Exchanges Association (ASEA), marked with an asterisk (*).
The Egyptian Exchange (EGX), founded in 1883, holds the distinction of being the oldest stock exchange in Africa. Other historic exchanges include the Casablanca Stock Exchange in Morocco, established in 1929, and the Johannesburg Stock Exchange (JSE) in South Africa, founded in 1887. Presently, the JSE is the largest stock exchange in Africa, followed by the Nigerian Stock Exchange (NSE) in the second position. The Casablanca Stock Exchange ranks third in size.
While most countries in Africa have stock exchanges, some notable exceptions include Ethiopia. However, Ethiopia does have a commodities exchange in Addis Ababa. In January 2021, a capital market bill was proposed to Ethiopian lawmakers, aiming to establish a stock exchange through a public-private partnership.
The Full List of African Stock Exchanges (Economy & Locations)
| Economy | Exchange | Location | Founded |
| Algeria | Algiers Stock Exchange | Algiers | 1997 |
| Angola | Angola Debt and Stock Exchange | Luanda | 2016 |
| Botswana | Botswana Stock Exchange* | Gaborone | 1989 |
| Cameroon | Douala Stock Exchange* | Douala | 2001 |
| Cape Verde | Bolsa de Valores de Cabo Verde* | Praia | 1998 |
| Egypt | Egyptian Exchange* | Cairo, Alexandria | 1883 |
| Gabon | Bourse des Valeurs Mobilières de l’Afrique Centrale | Libreville | 2003 |
| Ghana | Ghana Stock Exchange* | Accra | 1990 |
| Ivory Coast | Bourse Régionale des Valeurs Mobilières* | Abidjan | 1998 |
| Kenya | Nairobi Securities Exchange* | Nairobi | 1954 |
| Lesotho | Maseru Securities Exchange* | Maseru | 2016 |
| Libya | Libyan Stock Market* | Tripoli | 2007 |
| Malawi | Malawi Stock Exchange* | Blantyre | 1995 |
| Mauritius | Stock Exchange of Mauritius | Port Louis | 1988 |
| Morocco | Casablanca Stock Exchange* | Casablanca | 1929 |
| Mozambique | Bolsa de Valores de Moçambique* | Maputo | 1999 |
| Namibia | Namibian Stock Exchange* | Windhoek | 1992 |
| Nigeria | Abuja Securities and Commodities Exchange | Abuja | 1998 |
| Nigerian Exchange Group | Lagos | 1960 | |
| Rwanda | Rwanda Stock Exchange | Kigali | 2011 |
| East Africa Exchange | Kigali | ||
| Seychelles | Merj Exchange Limited | Victoria | 2012 |
| Somalia | Somali Stock Exchange | Mogadishu | 2015 |
| South Africa | JSE Limited* | Johannesburg | 1887 |
| A2X Markets* | Johannesburg | 2017 | |
| ZAR X | Johannesburg | 2016 | |
| Equity Express Securities Exchange | Johannesburg | 2017 | |
| Cape Town Stock Exchange* | Cape Town | 2017 (2021) | |
| Sudan | Khartoum Stock Exchange* | Khartoum | 1994 |
| Eswatini | Eswatini Stock Exchange* | Mbabane | 1990 |
| Tanzania | Dar es Salaam Stock Exchange* | Dar es Salaam | 1998 |
| Tunisia | Bourse de Tunis* | Tunis | 1969 |
| Uganda | Uganda Securities Exchange* | Kampala | 1997 |
| ALTX East Africa Exchange | Kampala | 2013 | |
| Zambia | Agricultural Commodities Exchange of Zambia | Lusaka | 2007 |
| Lusaka Stock Exchange* | Lusaka | 1994 | |
| Africa Digital Stock Exchange Ltd | Zambia | 2018 | |
| Zimbabwe | Zimbabwe Stock Exchange* | Harare | 1948 |
| Victoria Falls Stock Exchange | Victoria Falls | 2020 | |
| Finsec | Harare | 2019 |
List of Stock Exchanges in the World
Let’s take a look at some major stock exchanges in the world. Seventeen stock exchanges have a market capitalization of over US$1 trillion each and are known as the “$1 Trillion Club”. Together, they accounted for 87% of global market capitalization in 2016. It’s important to note that some of these exchanges include companies from outside the country where the exchange is physically located.
I will advise you to try and understand the significance of these major stock exchanges. Why? Because, it is essential as they are key players in the global financial system. How? It just by facilitating the trading of securities and influencing worldwide economic trends.
Major stock exchanges
Major stock exchange groups (the current top 20 by market capitalization) of issued shares of listed companies (“MIC” = market identifier code).
| # | Year | Stock exchange | MIC | Region | Market place | Market cap (USD tn) | Monthly trade volume (USD bn) | |
| 1 | 2022 | New York Stock Exchange | XNYS | United States | New York City | 22.7 | 1,452 | |
| 2 | 2022 | Nasdaq | XNAS | United States | New York City | 18.0 | 1,262 | |
| 3 | 2022 | Shanghai Stock Exchange | XSHG | China | Shanghai | 7.26 | 536 | |
| 4 | 2022 | Euronext | XAMS XBRU XMSM XLIS XMIL XOSL XPAR | Europe | Amsterdam Brussels Dublin Lisbon Milan Oslo Paris | 6.62 | 174 | |
| 5 | 2022 | Japan Exchange Group | XJPX | Japan | Tokyo | 5.65 | ||
| 6 | 2022 | Shenzhen Stock Exchange | XSHE | China | Shenzhen | 5.2 | ||
| 7 | 2022 | Hong Kong Stock Exchange | XHKG | Hong Kong | Hong Kong | 4.97 | 182 | |
| 8 | 2022 | Bombay Stock Exchange | XBOM | India | Mumbai | 3.5* | ||
| 9 | 2022 | London Stock Exchange | XLON | United Kingdom | London | 3.27 | 219 | |
| 10 | 2022 | National Stock Exchange | XNSE | India | Mumbai | 3.2 | 481 | |
| 11 | 2022 | Toronto Stock Exchange | XTSE | Canada | Toronto | 3.02 | 97 | |
| 12 | 2022 | Saudi Stock Exchange (Tadawul) | XSAU | Saudi Arabia | Riyadh | 2.7 | ||
| 13 | 2022 | SIX Swiss Exchange | XSWX | Switzerland | Zurich | 1.71 | 77 | |
| 14 | 2022 | Deutsche Börse AG | XFRA | Germany | Frankfurt | 1.70 | 140 | |
| 15 | 2022 | Nasdaq Nordic and Baltic Exchanges | Europe | 1.67 | 72 |
Continuation of the Stock Exchange List
| 16 | 2022 | Australian Securities Exchange | XASX | Australia | Sydney | 1.55 | |
| 17 | 2022 | Korea Exchange | XKOS | South Korea | Seoul Busan | 1.49 | 277 |
| 18 | 2022 | Johannesburg Stock Exchange | XJSE | South Africa | Johannesburg | 1.36 | 29 |
| 19 | 2022 | Taiwan Stock Exchange | XTAI | Taiwan | Taipei | 1.26 | 75 |
| 20 | 2022 | Tehran Stock Exchange | Iran | Tehran | 1.05 | ||
| 21 | 2022 | B3 Brasil Bolsa Balcão | BVMF | Brazil | São Paulo | 0.85 |
Note: “Δ” to UTC, as well as “Open (UTC)” and “Close (UTC)” columns contain valid data only for standard time in a given time zone. During daylight saving time period, the UTC times will be one hour less and Δs one hour more. **Applicable for non-closing auction session shares only.
List of stock exchanges in the Commonwealth of Nations
This is the list of active stock exchanges in the Commonwealth of Nations (Full Members). The Commonwealth of Nations consists of member-states located on all major continents and represents almost one-third of the Earth’s population.
Some states have established multi-state regional stock exchanges through agreements, while larger states may have more than one or specialized stock exchanges. The list includes stock exchanges from the conceptualized Commonwealth free trade area, as well as nations that make up the proposed CANZUK-bloc.
| Exchange name | Location | Founded |
| Antigua and Barbuda | ||
| Eastern Caribbean Securities Exchange (ECSE) | (Basseterre, Saint Kitts) | 2001 |
| Australia | ||
| APTEX | Sydney | 2008 |
| Australian Securities Exchange | Sydney | 1987 |
| National Stock Exchange of Australia | Sydney | 1937 |
| Sydney Stock Exchange | Sydney | 1997 |
| Chi-X Australia | Sydney | |
| Commonwealth of The Bahamas | ||
| Bahamas Securities Exchange | Nassau | |
| Bangladesh | ||
| Chittagong Stock Exchange | Chittagong | 1995 |
| Dhaka Stock Exchange | Dhaka | 1954 |
| Barbados | ||
| Barbados Stock Exchange | Bridgetown | 1987 |
| Botswana | ||
| Botswana Stock Exchange | Gaborone | 1989 |
| Cameroon | ||
| Douala Stock Exchange | Douala | 2001 |
| Canada | ||
| Canadian Securities Exchange | Toronto | 2004 |
| Montreal Exchange | Montréal | 1832 |
| NASDAQ Canada | New York City | 2000 |
| Toronto Stock Exchange | Toronto | 1861 |
| TSX Venture Exchange | Calgary | 2001 |
| Aequitas Neo | Toronto | 2015 |
| Cyprus | ||
| Cyprus Stock Exchange | Nicosia | 1996 |
| Commonwealth of Dominica | ||
| Eastern Caribbean Securities Exchange (ECSE) | (Basseterre, Saint Kitts) | |
| Fiji | ||
| South Pacific Stock Exchange | Suva | 1971 |
| Gabon | ||
| Bourse des Valeurs Mobilières de l’Afrique Centrale | Libreville | 2003 |
| Ghana | ||
| Ghana Stock Exchange | Accra | |
| Grenada | ||
| Eastern Caribbean Securities Exchange (ECSE) | (Basseterre, Saint Kitts) | |
| Co-Operative Republic of Guyana | ||
| Guyana Stock Exchange | Georgetown | 2003 |
| India | ||
| Bombay Stock Exchange | Mumbai | 1875 |
| Calcutta Stock Exchange | Kolkata | 1830 |
| Indian Commodity Exchange | Navi Mumbai | 2017 |
| India International Exchange | GIFT City | 2017 |
| Multi Commodity Exchange | Mumbai | 2003 |
| National Commodity and Derivatives Exchange | Mumbai | 2003 |
| National Stock Exchange of India | Mumbai | 1992 |
| NSE International Exchange | GIFT City | 2017 |
| Jamaica | ||
| Jamaica Stock Exchange | Kingston | 1968 |
| Kenya | ||
| Nairobi Securities Exchange | Nairobi | 1954 |
| Lesotho | ||
| Maseru Securities Exchange | Maseru | 2016 |
| Malaysia | ||
| Bursa Malaysia | Kuala Lumpur | |
| Malaysia Derivatives Exchange | Kuala Lumpur | |
| Malta | ||
| Malta Stock Exchange | Valletta | 1992 |
| Mozambique | ||
| Bolsa de Valores de Moçambique | Maputo | 1999 |
| New Zealand | ||
| New Zealand Exchange | Wellington | 2002 |
| Nigeria | ||
| Nigerian Stock Exchange | Lagos | 1960 |
| Pakistan | ||
| Pakistan Stock Exchange | Karachi | 2016 |
| Papua New Guinea | ||
| PNGX Markets Limited | Port Moresby | 1999 |
| Rwanda | ||
| Rwanda Stock Exchange | Kigali | 2011 |
| Trinidad and Tobago | ||
| Saint Kitts and Nevis | ||
| Eastern Caribbean Securities Exchange | Basseterre, Saint Kitts | |
| Saint Lucia | ||
| Eastern Caribbean Securities Exchange (ECSE) | (Basseterre, Saint Kitts) | |
| Saint Vincent and the Grenadines | ||
| Eastern Caribbean Securities Exchange (ECSE) | (Basseterre, Saint Kitts) | |
| The Seychelles | ||
| Seychelles Securities Exchange (Trop-X) | Eden Island | |
| Singapore | ||
| Singapore Exchange | Singapore | |
| Stock Exchange of Singapore | Singapore | |
| South Africa | ||
| AltX | Johannesburg | 2003 |
| Johannesburg Stock Exchange | Johannesburg | 1887 |
| Sri Lanka | ||
| Colombo Stock Exchange | Colombo | 1896 |
| Tanzania | ||
| Dar es Salaam Stock Exchange | Dar es Salaam | 1998 |
| Trinidad and Tobago | ||
| Trinidad and Tobago Stock Exchange | Port of Spain | 1981 |
| Uganda | ||
| ALTX East Africa Exchange | Kampala | 2014 |
| Uganda Securities Exchange | Kampala | 1997 |
| United Kingdom | ||
| London Stock Exchange | London | 1801 |
| PLUS Markets Group (closed) | London | 2004 |
| Zambia | ||
| Agricultural Commodities Exchange of Zambia | Lusaka | 2007 |
| Lusaka Stock Exchange | Lusaka | 1993 |
References from Wikipedia
- “Companies listed on ASeM” and Market Statistics
- “NSE Listed Securities” and NSE Listed Companies
- “About Us – Nigerian Exchange Limited”. Retrieved 2022-02-22.
- “The Stock Exchange”. The Nigerian Stock Exchange. Retrieved 2012-06-08.
- Lukasiewicz, Mariusz. “Finance, Investment and Decolonisation in Nigeria.” Zeitschrift für Unternehmensgeschichte 67, no. 2 (2022): 189-217.
- Opening of Lagos Stock Exchange. The Financial Times (London, England), Thursday, June 15, 1961; pg. 5; Edition 22,417.
- Good Start on Lagos S. E. The Financial Times (London, England), Tuesday, October 24, 1961; pg. 5; Edition 22,528
- Jeremiah, Urowayino (2021-04-13). “Nigerian Exchange launches new corporate identity”. Vanguard News. Retrieved 2022-10-10.
- Ayodele, Mercy (2021-04-22). “EXPLAINER: What NSE’s rebranding as Nigerian Exchange Group means”. Businessday NG. Retrieved 2022-10-10.
- “Nigerian Exchange Group launches new corporate identity | Marketing Edge Magazine”. Marketing Edge Magazine. 2021-04-13. Retrieved 2022-10-10.
- “NSE Investors’ Protection Fund” (PDF).
- “What We Do”. SEC Nigeria. Retrieved 2011-06-08.
- “Demutualisation: Oscar Onyema named GCEO Nigerian Exchange Group”. TheCable. 2021-01-06. Retrieved 2022-10-10.
- “NGX Group appoints new chairman The Nation Newspaper”. 2022-10-10. Retrieved 2022-10-10.
- Rapheal (2022-10-10). “NGX Group appoints Kwairanga as new chairman”. The Sun Nigeria. Retrieved 2022-10-10.
- “Leadership – Nigerian Exchange Limited”. Retrieved 2022-10-10.
- “All-Share Index”. NSE. Archived from the original on 2012-06-22. Retrieved 2012-06-09.
- “Nigerian Stock Exchange joins United Nations Sustainable Stock Exchanges Initiative”. UNCTAD. Retrieved 9 May 2014.
- Market Statistics Equities Price List, Bonds Price List, ETFs Price List and Mutual Funds Price List.
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