The Chartered Institute of Stockbrokers (CIS) and the Association of Securities Dealing Houses (ASHON)  have praised Federal Government reforms supporting Nigeria’s expanding capital market.

The commendation followed Nigerian Exchange Ltd.’s attainment of ₦100 trillion market capitalisation.

In a joint statement on Friday, the bodies described the milestone as affirming the market’s resilience, depth and growing sophistication.

The statement was signed by ASHON Chairman, Samuel Adenagbe, and CIS President and Council Chairman, Oluropo Dada.

They said the achievement reflected renewed investor confidence, improved efficiency and the market’s capacity to mobilise long-term funds for development.

According to them, a supportive macroeconomic and regulatory environment encouraged domestic and foreign investments, reforms and the attractiveness of Nigerian financial assets.

The bodies congratulated the board, management and staff of Nigerian Exchange Group and Nigerian Exchange Ltd. on the historic feat.

They commended NGX leadership and the professionalism of its management, led by Dr Umaru Kwairanga, Temi Popoola, Jude Chiemeka and Femi Sobanjo.

The statement indicated that dealing member firms and stockbrokers were critical to sustaining liquidity, transparency and investor protection.

It noted that their commitment strengthened market integrity and broadened participation.

The organisations also praised the Securities and Exchange Commission for sound regulation, policy stability and reforms supporting market development.

 “Crossing the ₦100 trillion threshold underscores the vital role of the capital market in financing growth, creating wealth and supporting national development objectives,” the statement read in part.

CIS and ASHON reaffirmed commitments to ethical governance, innovation and strong investor protection frameworks.

They pledged continued collaboration with regulators and stakeholders to deepen the market, broaden products and sustain inclusive, sustainable economic growth.

 (NAN)