getting this cscs acc thing settled once and for all

[chibiks]

All the gurus in the house, please help me out.

Background
* Applied for NRN with UBA - including broking account.
* They replied saying all accounts have been opened including brokerage account and they gave me a CSCS acc no + CHN. At this point I had not even funded any of the accounts.
* They also sent me a "proof of account opening", by logging into CSCS Nigeria Ltd website with their own user name (i.e. UBA Stockbrokers user name not any of their staff user name).

My Questions.
* I dont want UBA Stockbrokers to have online access to my account under their own user name. What should I do?
* Will registering for CSCS online access now with NGN2,500 (payable to CSCS Nigeria Ltd) give me exclusive access to the individual account and bar UBA Stockbrokers from being able to have transactional access on the account (i.e. letting them have view access only). WIll the original CSCS acc number given me be preserved?
* Could someone please highlight the exact steps after chosing a stockbroker in terms of getting the individual CSCS account monitoring stuff up and running.

Thanks.

[olusolakemmy]

Originally Posted by chibiks

All the gurus in the house, please help me out.

Background
* Applied for NRN with UBA - including broking account.
* They replied saying all accounts have been opened including brokerage account and they gave me a CSCS acc no + CHN. At this point I had not even funded any of the accounts.
* They also sent me a "proof of account opening", by logging into CSCS Nigeria Ltd website with their own user name (i.e. UBA Stockbrokers user name not any of their staff user name).

My Questions.
* I dont want UBA Stockbrokers to have online access to my account under their own user name. What should I do?
* Will registering for CSCS online access now with NGN2,500 (payable to CSCS Nigeria Ltd) give me exclusive access to the individual account and bar UBA Stockbrokers from being able to have transactional access on the account (i.e. letting them have view access only). WIll the original CSCS acc number given me be preserved?
* Could someone please highlight the exact steps after chosing a stockbroker in terms of getting the individual CSCS account monitoring stuff up and running.

Thanks.

what exactly do you want?
you want the services of a broker but you dont want the broker to have access to your account?
i dont know if that is possible except i dont understand precisely what you want.

the cscs open to investor in order that you as an investor can have 24hr access to your acct instead of the monthly statement we usualy get before.

your broker will have access to your acct (that is your cscs position) but do not have right to sell or buy without your permission, infact it is illegal to do that.

except you want to be trading on your own and we dont have that platform in nigeria yet.

infact my understanding is this, your broker buy and sell on your behalf, so there is now way they will not know and have access to it.

[despi_dynasty]

Originally Posted by chibiks

All the gurus in the house, please help me out.

Background
* Applied for NRN with UBA - including broking account.
* They replied saying all accounts have been opened including brokerage account and they gave me a CSCS acc no + CHN. At this point I had not even funded any of the accounts.
* They also sent me a "proof of account opening", by logging into CSCS Nigeria Ltd website with their own user name (i.e. UBA Stockbrokers user name not any of their staff user name).

My Questions.
* I dont want UBA Stockbrokers to have online access to my account under their own user name. What should I do?
* Will registering for CSCS online access now with NGN2,500 (payable to CSCS Nigeria Ltd) give me exclusive access to the individual account and bar UBA Stockbrokers from being able to have transactional access on the account (i.e. letting them have view access only). WIll the original CSCS acc number given me be preserved?
* Could someone please highlight the exact steps after chosing a stockbroker in terms of getting the individual CSCS account monitoring stuff up and running.

Thanks.

What I comprehend from ur write-ups is that you don't want the broker responsible to have access to your holdings after what you request them to do for you.

That's good idea.

In order to bar them from having access to your holding, then you open the kind of account known as special accout.

[olusolakemmy]

Originally Posted by despi_dynasty

What I comprehend from ur write-ups is that you don't want the broker responsible to have access to your holdings after what you request them to do for you.

That's good idea.

In order to bar them from having access to your holding, then you open the kind of account known as special accout.

please despi, what do u mean by a special account?