Buying shares (from POs) online without CSCS records

[Monwowo]

Hi all,

I have purchased shares online for two bank POs done recently. Being the first time I would be buying shares, I don't have any CSCS number (or records yet). I have learn't on this website that it takes time to receive share certificates (if one is issued!). Is it alright to continue buying shares online during POs without clarifying that the previous purchases were properly credited to my name? Is it better to go through a broker? I am not currently residing in Nija and the whole selection of broker thing is scaring me from the threads I have read about Nigerian brokers. Please, what is my best option given that I want to continue investing.
Thanks.
Monwowo

[Razak1]

RE: Monwowo Question

Check out UBA (NRN). Welcome to UBA Group

[Monwowo]

Thanks Razak1
I guess I need an account with UBA to do this..right??

THanks again

[Razak1]

Yeap!
you need to open an account with UBA (this program is meant for people living in US, UK & Canada).

I just Started with UBA (so can't really give much comment "either Good or Bad).

Send them an e-mail and someone will guide you through the Process.

[Betiku Franklin Olugbenga]

Originally Posted by Monwowo

Hi all,

I have purchased shares online for two bank POs done recently. Being the first time I would be buying shares, I don't have any CSCS number (or records yet). I have learn't on this website that it takes time to receive share certificates (if one is issued!). Is it alright to continue buying shares online during POs without clarifying that the previous purchases were properly credited to my name? Is it better to go through a broker? I am not currently residing in Nija and the whole selection of broker thing is scaring me from the threads I have read about Nigerian brokers. Please, what is my best option given that I want to continue investing.
Thanks.
Monwowo

You are very safe, no wahala
As primary market tradings have very little to do with the stoke brokers at the initial stage i.e the point of purchase, which you can get to execute anywhere, online, banks and so on. But as soon as you get your share certificate you'll definitely need the brokers to help you with the verification process and in this case this case you get to call the shots.

[Avocado]

Monwowo: UBA brokers may be good, but you ought to know that you have options: there’s a thread where stockbrokers are recommended. You also have to read the fine print concerning their agreements and see if they meet your needs.

Do these two offers include FirstBank, Access and Bank PHB? I know someone in exactly the same situation. You absolutely need a stockbroker. Have you used a reliable Nigerian address in completing the online offers? If not, there’s a need to combat the fire on the mountain; the problem could be solved. Both FirstBank and Access will most definitely be returning funds, so it is important that your address of record is reachable and active. Your Certificates will also be sent to the same address, and you’ll need a stockbroker to verify these for you. With a CSCS account through a stockbroker, life becomes much easier.

Razak1: will UBA brokers accept that their address be used as address of record by individual investors? If yes, what is the fee for this service?

[madeonline]

What is CSCS's functional email address?

Sometimes I do have need to send online enquiries to them.

[Naijadr]

@ Avocado, my friends and I here in the US who use UBA NRN as our broker use UBA's NRN address for our CSCS info for free. I've been with them officially with Oct and I'm quite pleased especially being so far away.
I have access to my relationship officers and managers by email or phone, I have never called, and if I ever go to Lagos, I can go to head office in lag and comfortably walk into their 15th floor office and receive stellar treatment as an NRN customer, so yeah its a higher level of UBA experience.

[Avocado]

Well, good experience, and nice you're sharing. Was only saying there're options. The recommendation to open an account with UBA above did not address the question asked by the poster. There are options: someone looking to choose could have UBA; just so they know there are viable options too. I don't use UBA (but I do bank with UBA). From your post, it appears UBA gives some special treatment to so-called NRN?
.

[newton]

Check their webpage:

www.cscsnigerialtd.com - The Clearing House of The Nigerian Stock Exchange

Beware there is a poster website - www.cscsnigeria.com (pls take note)

U'd find functional contact details there - phone/mail/address