UNDERSTANDING NSE

Selling Shares via CSCS: Nigerian Stock Exchange

Ade Alao — Tue, 11 Jan 2011 16:26:28 +0000

THE FOLLOWING STEPS SHOULD BE CAREFULLY COORDINATED WITH AN APPROVED BROKER OF THE NIGERIAN STOCK EXCHANGE

The Seller brings the latest copy of the CSCS statement and gives a mandate letter to the stock broker authorizing the sale of shares.
The order is entered into the jobbing book for sale on the floor of the Nigerian Stock Exchange.
After execution on the floor we issue sales Contract Note in favour of the client.
We issue cheque for the proceed less our commission and other statutory charges accordingly.

Selling Share Certificates on the Nigerian Stock Exchange

Ade Alao — Mon, 10 Jan 2011 23:07:01 +0000

THE FOLLOWING STEPS SHOULD BE CAREFULLY COORDINATED WITH AN APPROVED BROKER OF THE NIGERIAN STOCK EXCHANGE

Seller brings original share certificate(s) for sale
Seller to complete the transfer form as appropriate.
Sale mandate is obtained from the client.
Seller is issued with a script receipt as evidence of certificate receipt.
The share certificate(s) with the attached completed transfer form(s) are covered with CSCS Certificate Deposit forms to the Registrar’s office for verification.
If verified by the Registrars, the shares will enter CSCS depository for trading on the floor.
After the sale of the shares, we prepare sales Contract Note for the client.
The seller’s cheque for the proceed of the sale less brokers commission and other statutory charges is issued for collection fourth day after the sale transaction.

Basis Points - What does it mean?

Ade Alao — Thu, 04 Mar 2010 14:16:06 +0000

Have you ever come across Financial or Analyst reports with an opening line: “THE NIGERIAN INDEX GREW BY 10 Basis Points... and all that comes to your mind are "WHAT?" or "Okay?" and you have a faintest idea of what they are speaking about? The Good News is that you are not the only one feeling this way.

Diaspora: How to Invest in the Nigerian Stock Exchange

Ade Alao — Sun, 31 Jan 2010 04:59:21 +0000

Investment sum is routed electronically (cash transactions are not permitted) to a preferred licensed Nigerian Bank

Procedures for Buying and Selling of Shares in the NSE

Ade Alao — Sun, 31 Jan 2010 04:52:22 +0000

# Due diligence is done to know who the client is i.e. know your client rule (KYC) is observed. # To formalize relationship, clients’ are made to complete shareholders account opening (CSCS) form and fund their account. # The Buyer then completes purchase order form and transfer forms as appropriate. # We process the CSCS form and obtain CSCS account number for the clients in 2days. # The Buyer’s order is entered into the jobbing book for the Dealing Clerk to buy the shares on the floor of The Nigerian Stock Exchange.