AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
On the fee lines one investment app listed in September 2026, buying ₦100,000 of NGX shares through a broker charging 1.35% costs about ₦1,858 in charges, and selling costs about 2.18% of the sale value plus ₦4. In that example the shares must rise roughly 4.1% before you get your ₦101,858 back.
Most people who ask what ₦100,000 can do on the Nigerian Exchange (NGX) are really asking two things: how much of the money actually buys shares, and how much the price must move before they are not losing. Both answers depend on the charges added to every trade. This article works through one labelled example, line by line, using a published fee list, so you can repeat the sums with your own broker's figures.
The charges on a Nigerian share trade
A share trade in Nigeria carries a broker's commission plus regulatory and market charges. Bamboo's help centre, updated on 3 September 2026, lists the lines below for Nigerian stocks. Your broker may charge a different commission, so treat this as a reference list, not a quote.
| Charge | On a buy | On a sell |
|---|---|---|
| Brokerage commission | 0.75% to 1.35% | 0.75% to 1.35% |
| SEC fee | 0.3% | Not listed |
| NGX fee | Not listed | 0.3% |
| CSCS fee | Not listed | 0.3% |
| Stamp duty | 0.08% | 0.08% |
| VAT at 7.5% | On brokerage and SEC fee | On brokerage, NGX and CSCS fees |
| Trade alert | ₦4 | ₦4 |
| Bamboo's own commission (app users only) | 1% | 1% |
Two things stand out. The buy side and sell side are not the same, so you pay a different percentage on each leg. And the brokerage commission is the largest single line, which is why the broker you choose matters more than any other decision for a small account. Our guide on NGX stockbroker fees per trade goes through each line in more depth.
Worked example: buying ₦100,000 of shares
Example only. Assume you place an order for shares worth exactly ₦100,000 through a stockbroker that charges 1.35%, the top of the range above, and you do not use an app that adds its own commission.
| Line | Working | Amount |
|---|---|---|
| Shares bought | Order value | ₦100,000.00 |
| Brokerage | 1.35% × ₦100,000 | ₦1,350.00 |
| SEC fee | 0.3% × ₦100,000 | ₦300.00 |
| Stamp duty | 0.08% × ₦100,000 | ₦80.00 |
| VAT | 7.5% × (₦1,350 + ₦300) | ₦123.75 |
| Trade alert | Flat | ₦4.00 |
| Total charges | ₦1,857.75 | |
| Total paid | ₦101,857.75 |
So the charges on the way in come to about 1.86% of the order. If you only have ₦100,000 in total, the order you can place is a little smaller: roughly ₦98,176 of shares, with the rest going to charges.
Worked example: selling, and the break-even price
On the sell side, the percentage lines in the same example are brokerage 1.35%, NGX fee 0.3%, CSCS fee 0.3% and stamp duty 0.08%. VAT of 7.5% applies to the first three, which adds 7.5% × 1.95% = 0.14625%. That gives total percentage charges of 2.17625% of the sale value, plus the ₦4 alert.
To break even, the sale value minus sell charges must equal the ₦101,857.75 you paid. Solving: sale value × (1 − 0.0217625) − ₦4 = ₦101,857.75, so the sale value must be about ₦104,128. In other words, the shares must rise by roughly 4.1% before you recover your money, and that is before any tax or the effect of inflation.
What a 10% rise looks like
- Shares you bought for ₦100,000 rise to ₦110,000 (example).
- Sell charges: 2.17625% × ₦110,000 + ₦4 = about ₦2,398.
- You receive about ₦107,602.
- Gain after both sets of charges: ₦107,602 − ₦101,858 = about ₦5,744, or 5.6% on what you paid, not 10%.
If an app adds its own commission
Some apps add their own charge on top of the broker's lines; Bamboo lists 1% each way. Add 1% to both legs of the example and the buy charges rise to about ₦2,858, and the break-even sale value rises to about ₦106,236, a move of about 6.2%. That is the price of the convenience, so compare it with opening an account directly with a broker.
What the example teaches
- Trading often is expensive at this size. Each round trip in the example costs about 4% of your money, so buying and selling every few weeks can absorb most of a modest return.
- Dividends help close the gap. Cash dividends paid while you hold count towards your return, though they carry withholding tax (see tax on dividends in Nigeria).
- Spreading ₦100,000 across five companies does not change the percentage charges, but any flat charge, such as the alert fee, is paid on each order.
- Capital gains on small share sales by individuals are expected to fall under the exemption described in our article on capital gains tax on shares, but check the rule before you rely on it.
What to check first
- Your broker's commission rate, and whether there is a minimum charge per order.
- Whether the app or broker adds a platform commission on top.
- The contract note after your first trade: every line should match what you were told.
- That your broker is registered with the SEC. The steps are in how to choose a stockbroker.
Where Pryme fits
Pryme is not a broker and does not sell shares. Where it can help is the money around the trade: you can send naira to your broker's funding account from your Pryme account, and keep cash you have set aside for investing in a Naira Savings Box until you are ready to place an order.
Questions people ask
How much do I need to start buying shares in Nigeria?
There is no single minimum set for all investors; it depends on the share price and your broker's rules. Our guide on the minimum amount to buy shares explains how to work it out.
How much does it cost to buy shares on the NGX?
On the lines Bamboo listed in September 2026, a buy through a broker charging 1.35% costs about 1.86% of the order, mostly brokerage, SEC fee, stamp duty and VAT. Ask your broker for its own rates.
How much must my shares rise before I make a profit?
In this article's example, about 4.1% to cover charges on both buying and selling. With an extra 1% app commission each way, about 6.2%.
Is it worth investing ₦100,000 in Nigerian stocks?
That depends on your goals, time frame and risk tolerance. The charges mean short-term trading at this size is costly; holding longer spreads the cost over more time.
Sources
- Bamboo Help Center: Fees & Charges (Nigerian Stocks), 3 Sep 2026 · accessed Oct 2026
- Mondaq: New Capital Gains Tax Rules for Nigerian M&A Transactions, 13 Nov 2025 · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.