Nigerian Exchange Group (NGX Group) has recorded a profit before tax of ₦20.6 billion in the first nine months of 2026, as rising investor participation and increased use of digital trading channels boosted its earnings.

This figure represents an 83.3 per cent increase from ₦11.2 billion recorded in the corresponding period of 2025, while profit after tax rose by 86.4 per cent to ₦14.7 billion from ₦7.9 billion.

The group’s after-tax profit for the nine months has already surpassed the ₦10.5 billion recorded for the whole of 2025, with the final quarter of the year still remaining.

Performance reflects growing activity in Nigeria’s capital market, where more retail investors are accessing investment opportunities through digital platforms and trading more frequently.

NGX Group said the expansion in market participation was translating into stronger earnings, supported by its position across different segments of the capital market.

Earnings per share stood at ₦5.33 for the period. The figure takes into account the enlarged share base following the one-for-three bonus issue approved by shareholders in April 2026. On a restated basis, earnings per share for the corresponding period of 2025 stood at ₦2.68.

The group also recorded a 69.6 per cent increase in its share of profits from associated companies to ₦5.7 billion, driven largely by the performance of Central Securities Clearing System Plc (CSCS).

The contribution highlights the importance of NGX Group’s investments beyond its core exchange operations, as activity across the market infrastructure chain supports its overall earnings.

Commenting on the results, NGX Group Chairman, Umaru Kwairanga, said the figures demonstrated what effective governance and strategic management could deliver as Nigeria’s capital market expands.

Group Managing Director and Chief Executive Officer, Temi Popoola, said the growing number of Nigerians investing through digital channels had helped more than double transaction revenue.

Popoola said the group was investing in its workforce, infrastructure and technology to accommodate further growth in investor participation while maintaining an efficient and secure market.

The results come amid a strong rally in Nigerian equities during 2026.

The NGX All-Share Index gained 61.43 per cent between January and September, while market capitalisation rose from ₦99.38 trillion at the beginning of the year to approximately ₦163.10 trillion at the end of September.

Expansion in market value and trading activity has created a more active environment for the exchange group, which earns income from transactions, listings and investments across the capital market.