NGX, the Risk Enabler, Plays Safe, Stakes More in Bonds and Short-Term Instruments
Nigerian Exchange Group, an organization designed as a platform for risk-taking and long-term investors, seems to be playing safe as its year-to-date 2026 nine-month report shows a higher disposition towards risk-free investments.
The banking recapitalization programme of 2024/2025 as well as the significant growth in the prices of blue-chip stocks boosted market capitalization and the All-Share Index. Market capitalization rose by 80% from N90.6 trillion in the first nine months of 2026 as against N163.1 trillion in 2025. All Share Index, which measures the direction of price movements, grew by 76% from 142,710.48 to 251,211.67 In the same period.
The market growth impacted significantly on the cash flows and profitability of the NGX, providing the anchor for a boost in its proprietary portfolio. The NGX 9-month results show a significant rise in balance sheet largely influenced by increasing stakes in bonds and money market instruments.
The Group’s 2026 nine-month account shows that most of the cash generated from transaction fees and other income lines are directed to bonds and government securities
NGX’s investment in securities grew by 47% from N19 billion in December 2025 to about N28 billion in September 2026, with bonds, at N22 billion representing over 78% of the investment.
The Group’s investments in other non-NGX equity securities declined by 11.5% across board within the period under review from N8.7 billion to N7.8 billion, with the highest level of decline from investment in equity securities on NASD which dropped from N3.2 billion to N2.1 billion.
