Profit before tax up 83.3% to ₦20.6 billion | Transaction fees more than double to ₦20.7 billion | Cost-to-income ratio improves to 49.7%

Lagos, Nigeria – 27 October 2026: Nigerian Exchange Group Plc (“NGX Group” or “the Group”) has reported profit before tax of ₦20.6 billion for the nine months ended 30 September 2026, up 83.3% from ₦11.2 billion in the same period of 2025. Profit after tax rose 86.4% to ₦14.7 billion, already 40% above the Group’s full-year 2025 profit after tax of ₦10.5 billion, with a quarter of the year still to run.

The performance reflects a structural shift in Nigeria’s capital market: more investors, increasingly retail and increasingly onboarding through digital self-service channels, trading more often across a deeper market. NGX Group is converting that activity into earnings while improving efficiency and investing in the people and infrastructure the next phase of growth requires.

Financial Highlights

Earnings per share was ₦5.33 for the period, reflecting the enlarged share base following the 1-for-3 bonus issue approved by shareholders in April 2026 (9M 2025 restated for the bonus issue: ₦2.68).

Digital Participation Is Driving Growth

Transaction fees more than doubled to ₦20.7 billion. Growth was driven by higher trading volumes and a widening investor base, as retail investors increasingly access the market through digital self-service, from account opening to order execution, on platforms connected to the Exchange. Listing fees grew by 24.4% to ₦3.7 billion, reflecting continued capital raising activity and continued new admissions to the market.

Significant Wealth Creation for Investors

The Group’s results mirror the value being created for investors across the market. As at 30 September 2026, the NGX All-Share Index had gained 61.43% year-to-date, while equity market capitalisation rose by 64.12% from ₦99.38 trillion at December 2025 to ₦163.10 trillion, representing an increase of ₦63.72 trillion. This growth reflects the significant expansion in the value of listed equities held by millions of Nigerians, pension funds and institutional investors.

Disciplined Investment for Scale

Total income grew faster than operating expenses (64.8% versus 56.8%), lowering the cost-to-income ratio to 49.7% from 52.3% and lifting operating profit 73.5% to ₦14.9 billion.

Cost growth reflects deliberate investment in capacity ahead of the next stage of market development, chiefly:

These investments lay the foundation for the Group’s technology roadmap, including platform modernisation, data services and digital access, which management expects to drive further operating leverage as volumes scale.

Strategic Investments and Balance Sheet

Share of profit from equity-accounted investees rose 69.6% to ₦5.7 billion, driven primarily by Central Securities Clearing System Plc (CSCS), underlining the value of the Group’s position across the market value chain.

Total assets stood at ₦79.1 billion and shareholders’ equity at ₦61.1 billion as at 30 September 2026. Shareholders received ₦8.2 billion in dividends during the period, up 86.7%, in addition to the 1-for-3 bonus issue.

Chairman’s Statement

Commenting on the results, the Group Chairman, Alhaji (Dr.) Umaru Kwairanga, said: “These results show what a well governed and strategically astute market institution can deliver as Nigeria’s capital market deepens. Our priority as a board has been to ensure that the capital market grows in terms of products, listed companies and investor participation and that the growth is matched by disciplined cost allocation to investments that strengthen the market’s foundations. We are focused on returning optimal value to our shareholders through consistent robust dividends and bonus issues in tandem with the market and the company’s growth.”

Group Managing Director/Chief Executive Officer’s Statement

Group Managing Director/Chief Executive Officer, Temi Popoola, said: “More Nigerians are investing, and more of them are doing it digitally. That broadening participation more than doubled our transaction revenue and is creating real wealth for investors. We are investing ahead of that curve, in our people, our infrastructure and our technology roadmap, so that the market can absorb the next wave of investors efficiently and securely. Our focus for the rest of the year and beyond is to scale our platforms, deepen market data and digital access, and extend our partnerships across Africa.”

Media Enquiries

Clifford Akpolo

Head | Group Communications and Partnerships

Nigerian Exchange Group

2-4 Customs Street | Lagos| Nigeria

Email:  cakpolo@ngxgroup