If you’re just starting your investment journey and you’re seeing words like CHN, CSCS and stockbroker everywhere, don’t worry. Let me break it down.

What do you need to start?

You basically need:

1. A bank account

This is where your money comes from and where certain investment payments can go.

2. BVN and a valid ID

You’ll need your personal details for verification when opening your investment account.

3. A stockbroker

This is the company that helps you buy and sell shares on the Nigerian market.

4. A CSCS account

This is where your Nigerian securities are recorded electronically. You don’t normally open this separately first; you start with a stockbroker, who handles the process with CSCS.

Now, what is CHN?

CHN means Clearing House Number.

Don’t let the big name scare you.

Think of your CHN as your unique investor ID in the Nigerian capital market. CSCS says it identifies each investor.

So what’s the difference?

Think of it like this:

CSCS = the system that keeps your investment records

CHN = your unique number that identifies you in that system

They are not two different investments and you don’t choose one over the other.

Can I have more than one?

Yes, a person can end up with multiple CHNs, especially when they have accounts with different brokers.

But as a beginner, you don’t need to deliberately create multiple ones.

If you already have multiple CHNs, CSCS has a process called CHN Consolidation, which allows them to be merged into one preferred CHN.

So the simple thing to remember is:

One main investor identity → your CHN → your investments can be held through your broker(s).

And if you change brokers later, you don’t automatically lose your investments. CSCS has processes for moving and consolidating accounts.

That’s the basic setup.

You don’t need to understand every financial term before you start. Just understand who holds your money, who executes your investment, and where your investment is recorded.

For FCMB shares
Step 1: Gather the person’s full name and any old documents relating to the shares — share certificate, dividend warrant, old bank records, etc.
Step 2: Contact CardinalStone Registrars, the registrar for FCMB Group.
Step 3: Tell them:
“I want to check if I have FCMB shares or unpaid dividends registered in my name.”
Step 4: Give them the details they request, usually things like full name, identification and shareholder information.
Step 5: Ask them to search their records for:
FCMB shares
Unpaid dividends
The shareholder’s current account/CSCS details, if applicable
Step 6: If they find the shares, ask them exactly what documents are required to claim or update the account.
Step 7: Submit the documents and complete their verification process.
Step 8: If there are unpaid dividends, ask them to help you register for e-dividend so future payments can go directly to your bank account.