How do i invest into Stock marketing?
- What is the difference between Laundry and Drycleaning
- Looking For Partner Companies in Africa
- What Kind Of Business Can I Do With 1million
- How to Become a Successful Innovator
- What Are The Top 10 Products Being Exported Oversea?
- Where Is The Main Source Of Coal in the Country?
- Contacts Of Plastic Recycling Companies In Port Harcourt
1. Opening a Nigerian Brokerage Account
Prospective investors must first go through the process of opening an account with a Nigerian stockbroker before buying their first shares. The processes are enumerated as follows
2: Investors must complete the CSCS Account Opening Form
The Central Securities Clearing System (CSCS) keeps records of the ownership of Nigerian securities via the use of electronic accounts. When the investor request for the opening of a trading account from the broker a copy of the CSCS Account Opening Form will be sent to the investor.
3: The Investors must complete the Broker’s Account Opening Form
The investor must also request from the broker information on how to open an account, who will then forward to the investor a blank account opening form. The information required on the form includes passport number or other ID number, your address, and banking details.
4: Collect and present two color passport-sized photographs of yourself
It is advisable to have a bunch of passport with you so you can use as the case demands.
5. Submit Documents
The investor should then send the original CSCS form, account opening form, passport photos, copy of your ID, and copy of your utility bill to the broker through DHL or FedEx. It is also advisable to send photocopies of all the documents to the broker through an email to intimate him of the original documents sent for the account opening process. However ensure that they eventually receive the original documents for opening of the account
6. The investor must start Funding the Brokerage Account
When the trading account has been opened, the investor must obtain the brokers bank details so as to start funding the account.
7. The investor then must submit a Trade Order
When if an investor have identified a stock to buy through research, The investor must send a trade instruction to the broker through email specifying a limit price for all orders, since some shares on the Nigerian Stock Exchange are rather illiquid.
8. Payment of dividends.
When the account has been duly opened, the investor can just simply issue an instruction to the broker to effect payments of all dividend on share holdings be paid and deposited directly into the trading account.