The Securities and Exchange Commission (SEC) has approved a 50 per cent hike in the X-Alert service fee per transaction in the Nigerian capital market.
The X-Alert fee is a flat rate charged for sending real-time SMS/email notifications for transactions to investors from both buy and sell sides.
It was introduced by the Nigerian Exchange (NGX) to replace percentage-based charges, aimed at increasing transparency and reducing total transaction costs for investors.
Investors were earlier charged N4 per SMS, but the country’s apex capital market regulator has approved a 50 per cent increase in X-Alert service fee, meaning the new rate is N6 per SMS.
Business Post gathered from one of the players in the ecosystem that the effective date for the new price was Thursday, March 26, 2026.
“We wish to inform you of a revision to the X-Alert (SMS) service fee applicable to transactions executed on the Nigerian Exchange (NGX).
“Following approval by the Securities and Exchange Commission (SEC), the X-Alert fee has been reviewed upward from N4.00 to N6.00 per transaction,” the notice sighted by this newspaper read.