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Stock Exchanges


Official Website: Nigerian Stock Exchange (NSE)


The Nigerian Stock Exchange (NSE) was established in 1960 as the Lagos Stock Exchange. In 1977, its name changed to the Nigerian Stock Exchange.

The NSE is licensed under the Investments and Securities Act (ISA) and is regulated by the Securities and Exchange Commission of Nigeria. It is a member of the International Organization of Securities Commissions (IOSCO), the World Federation of Exchanges (WFE), Sustainable Stock Exchanges Initiative (SSE), the SIIA’s Financial Information Services Division (FISD) and the Intermarket Surveillance Group (ISG). It is also a founding member and executive committee member of the African Securities Exchanges Association (ASEA).

The NSE is one of the most developed stock exchanges in Africa and offers a range of instruments for investors in the equities, bond and derivatives markets.


Official Website: NASD OTC Securities Exchange


The NASD OTC Securities Exchange is the promoter of a trading network that eases secondary market trading of securities of unlisted public companies, primarily in Nigeria, but with an additional focus on the West African region. Their goal is to stimulate growth by easing the capital raising process by bringing together all stakeholders in capital formation to a common environment where interactions are safe, efficient, transparent and appropriately priced. Operators in this environment include issuers of equity and fixed income instruments, institutional and individual investors, a growing pool of accredited authorized traders, settlement banks, clearing systems, private equity and venture capital firms with a view to increase liquidity in unlisted securities.


Commodity & Derivative Exchanges


Official Website: Nigeria Commodity Exchange (NCX)


The Nigeria Commodity Exchange (NCX), formerly known as the Abuja Securities & Commodities Exchange, was established as a stock exchange on June 17, 1998. It was converted to a commodity exchange on August 8, 2001 and brought under the supervision of the Federal Ministry of Commerce. Commodities traded include maize, sorghum, ginger, soybeans, sesame seeds, cassava, cowpea, gum arabic, palm, cocoa, coffee and cotton.

In 2017, there was an announcement that the National Sovereign Investment Authority (NSIA) will be taking over the NCX and will be providing a strategic equity investment in the NCX.


Official Website: FMDQ OTC Securities Exchange


The FMDQ OTC Securities Exchange (FMDQ) is an organization with the strategic intent of bringing about revolutionary changes and development to the Nigerian financial markets. Registered by the Securities and Exchange Commission (SEC) as an over-the-counter (OTC) market in 2012 and launched in November 2013, the FMDQ has dual responsibilities of a securities exchange and self-regulatory organisation (SRO), bringing together Nigeria’s fixed income and currency operations under a single market governance structure.


Official Website: Lagos Commodities and Futures Exchange (LCFE)



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