How do i invest into Stock marketing?

I need someone to tell me how to go into stock marketing here in Nigeria.

New Member Asked on April 22, 2017 in Business.
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1 Answer(s)

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.

New Member Answered on October 19, 2017.
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