ngx
The NGX is the Nigerian Exchange, the marketplace where shares in Nigeria's listed companies are bought and sold.
In plain English
Every country that wants ordinary people to own a piece of its companies needs a place where that ownership can change hands. In Nigeria, that place is the NGX.
It used to be called the Nigerian Stock Exchange. Today it is the Nigerian Exchange Group, and it is where the shares of banks, cement makers, telecoms companies and consumer goods giants are traded every working day.
You cannot walk in and buy shares yourself. You go through a licensed broker, who places the trade on your behalf and holds the shares in your name through the CSCS system. That is the whole mechanism, and it is far less mysterious than it sounds.
The number you will hear quoted on the news is the All-Share Index, which tracks how the market as a whole is doing. When people say the market was up today, that is usually what they mean.
The NGX matters to any Nigerian building wealth because it is the most direct way to own a share of the country's biggest businesses, and to be paid when they profit.
You want to own shares in a Nigerian bank. You open an account with a licensed broker, transfer ₦200,000, and place an order. The broker executes it on the NGX and the shares are registered to you through CSCS. You are now a part owner.
Questions people ask
How do I start investing on the NGX?
Open an account with a broker licensed by the Securities and Exchange Commission. They will create your CSCS account, which is where your shares are held in your name.
What are trading hours?
The NGX trades on weekdays during business hours and is closed at weekends and on public holidays. Your broker will confirm the current session times.
Can Nigerians abroad invest on the NGX?
Yes. Many diaspora investors do, though the process and documentation can differ, so ask a broker who deals with international clients.
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