E-Share Certificates?

[Stockbear]

Does anyone know if e-certs exists? I know we have e-bonus certs but I would like to be certain, as this would determine to some extent, the possible change in the time frame it currently takes to receive certs after IPO, PO's.

[bwalaman]

Good question... I also like to add to it, perhaps Paragon (others) could assist on the previous question and CSCS?

Is this CSCS deal as good as they make it sound? Consolidating all shares in one account? Does anyone here have an account with CSCS??? Opinions.

Thanks Stockbear and in advance...

[Stockbear]

@ Bwalaman - If you only buy IPO's / PO's, then you won't have any dealings with CSCS, until possibly when you have to sell your shares, at least I think.

On the other hand, when you start buying from the secondary market you will obviously be doing this through stockbrokers. The CSCS is what safeguards your investment, because in using the services of a broker, you must be registered with them. And they in turn make sure that no one but you get to benefit from the proceeds of your investment.

This is as much as I know. I am certain others will be able to provide more info.

[Dis GuY]

stockbear

what if you buy IPOs/POs via stockbrokers you are registered with
Earlier this year i had to register with my stockbroker to buy an IPO and there are details about cscs.

I think e-certs would be a great idea it is taking to long to issue certificate in nigeria

[Stockbear]

@ Dis Guy - Were you charged for buying the IPO on your behalf? You didn't need to join a stockbroker just to buy an IPO. Anyone can buy this directly at no additional cost.

Unless you were not in a postion to do this or had someone reliable to buy on your behalf?

[ghm]

E-scrip bonus was implemented for First Bank shares in 2006. I have a CSCS account and my FBN scrip bonus was added directly into my CSCS account without a physical certificate.

To the best of my knowledge, E-cert is not presently operational in Nigerian Stock Exchange.

However, Dangote Sugar (DSRC) Public Offer will be the first to implement E-Certificate (perhaps this March). If you purchase this DSRC shares and you indicated the required info (CSCS Nos; Stockbroker) and you indicate that you want the E-cert, it was promised that it will be implemented though we are still waiting to see it live.

[ghm]

Originally Posted by bwalaman

Good question... I also like to add to it, perhaps Paragon (others) could assist on the previous question and CSCS?

Is this CSCS deal as good as they make it sound? Consolidating all shares in one account? Does anyone here have an account with CSCS??? Opinions.

Thanks Stockbear and in advance...

This is very important, In fact , I advised that you should request for your CSCS number from your stockbroker as soon as you register with them. To be fair to the stockbrokers too, they always open for you as soon as you register with them otherwise there is something fishing!

That's where all the shares bougth in you name will go and you can confirm what you have with the CSCS without contacting/independent of the stockbroker. In my experience so far, what I have at the CSCS is always the same as what my broker told me he got at a specified date.

Also, I do request for my CSCS statement from my broker every 3 mths and this has eradicated, to a great extent my fears about the Nigeria Stock Exchange. I think CSCS is a great idea.

Also, CSCS also promise a trade alert service : where you will be alerted/informed wherever there is a transaction (buy/sell) on your CSCS account and you will be requested to notify them if you have not given such orders on your account. This will ensure that no broker can sell without your knowledge. Although, you have to specifically register for this service at a premium.

I hope this address some specific issues, you can bring up some more for clarifications.

Regards.