Differences between the First-Tier and Second Tier Market
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| S/N | First-tier market | Second Tier Market |
| 1 | Created to buy and sell new shares of companies. | Created to buy and sell new Shares of old companies. |
| 2 | The company must be in operation in for not less than 5 years | The company must be in trading for not less than 5 years |
| 3 | The Financial Account should be published quarterly, half-yearly, and annually | The Financial Account is to be published bi-annually and yearly |
| 4 | They pay an annual fee which is very high and varies according to the share capital | The annual fee paid is Fixed |
| 5 | The issued shares to the tune of 25% of the whole capital must be made available to the general public | The 10% of the whole capital released as the issued shares must be made available to the public |
| 6 | The shareholders’ must not be less than five hundred (500) in number. | The share holders must not be less than hundred (100) |
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