This is an important question — and you're not alone. Many business owners register a company and forget about Annual Returns. Let me clarify properly because there are TWO different Annual Returns in Nigeria: 1. CAC Annual Returns (Company Status) This is filed with the Corporate Affairs CommissionRead more
This is an important question — and you’re not alone. Many business owners register a company and forget about Annual Returns.
Let me clarify properly because there are TWO different Annual Returns in Nigeria:
1. CAC Annual Returns (Company Status)
This is filed with the
Corporate Affairs Commission (CAC)
This is NOT tax — it’s just to confirm your company is still active.
Why It’s Important
If you don’t file CAC annual returns:
Your company becomes inactive
CAC may strike off your company
You may pay penalties
When to File
Every year after your company anniversary
Example:
Company registered March 2022
First annual return due March 2023
2. Tax Annual Returns (FIRS / State Tax)
This is filed with:
Federal Inland Revenue Service (FIRS) — for companies
State Internal Revenue Service — for PAYE (if you have employees)
This includes:
Company Income Tax (CIT)
Education Tax
VAT (if applicable)
Filed through:
TaxPro Max
Since You Haven’t Filed Since Registration — Here’s What To Do
Step 1 — Check Your Company Status
Go to CAC portal: https://post.cac.gov.ng
Check:
Is your company still active?
How many years outstanding?
Step 2 — File CAC Annual Returns
You’ll need:
Company RC number
Director details
Company address
You can:
File yourself online
Use an agent (₦10k–₦25k typically depending on years owed)
Step 3 — File Tax Returns (Even If No Business Yet)
Very important:
Even if your company:
Didn’t operate
Made no profit
Was dormant
You must still file “Nil Returns”
This avoids penalties.
Estimated Penalties (Don’t Panic Yet)
Typical:
CAC Annual Return penalty: ₦5,000–₦10,000 per year
Tax penalty varies depending on company size
But many times:
Agents help reduce penalties
Or you can request waiver
You're not alone — this happens to many Nigerians who bought shares years ago. The good news is your shares are NOT lost, even if: You stopped receiving dividends You misplaced your share certificate It's been over 10 years Let me walk you through exactly what to do step-by-step 👇 First — Your ShareRead more
You’re not alone — this happens to many Nigerians who bought shares years ago. The good news is your shares are NOT lost, even if:
You stopped receiving dividends
You misplaced your share certificate
It’s been over 10 years
Let me walk you through exactly what to do step-by-step 👇
First — Your Shares Are Still Yours
If you bought shares in:
Access Holdings Plc (formerly Access Bank)
DAAR Communications Plc (owners of African Independent Television (AIT))
Your shares are recorded in:
Registrar records
Or Central Securities Clearing System (CSCS)
So even if certificate is lost, you can recover everything.
Why You Stopped Receiving Dividends
Most likely reasons:
You didn’t complete E-Dividend registration
Your address changed
Registrar couldn’t reach you
Dividends moved to Unclaimed Dividend Account
Don’t worry — you can still claim them (even after 10 years).
Step-By-Step: What You Should Do Now
Step 1 — Contact the Registrars
Every company has a registrar managing shareholder records.
For Access Holdings
Registrar:
Coronation Registrars Limited
For DAAR Communications
Registrar:
Africa Prudential Plc
Contact them and tell them:
“I bought shares over 10 years ago, lost my certificate, and stopped receiving dividends. I want to update my records and claim my dividends.”
Step 2 — Request These Things
Tell them you want:
Share verification
Lost certificate replacement
Unclaimed dividend claim
E-Dividend registration
Step 3 — Documents You’ll Need
Usually:
Valid ID (NIN / Driver’s License / Passport)
Passport photograph
Bank account details
Old address (if you remember)
Phone number used then (if possible)
Step 4 — Fill E-Dividend Form
This ensures:
Dividends go directly to your bank
No more lost dividend letters
Very Important (Good News)
Even if you never claimed dividends for 10 years:
You can still recover:
All past dividends
Bonus shares (if any)
Rights issues (if any)
One More Thing — Your Shares May Have Grown
For example:
Access Holdings Plc has issued bonus shares multiple times
Your original shares may now be more than you bought
You might be surprised how much you now own.
Faster Option (Recommended)
You can also go through:
Your stockbroker (if you remember who you used)
Or any new stockbroker to help trace
They can check through:
Nigerian Exchange Group
Central Securities Clearing System
If you have ₦5,000,000 sitting idle, you're actually in a very good position. The key is to balance safety, liquidity, and return. I'll show you the best options in Nigeria right now (2026) and what I personally recommend for your situation. Best Options to Grow ₦5M (From Safest → Higher Return) 🥇 1Read more
If you have ₦5,000,000 sitting idle, you’re actually in a very good position. The key is to balance safety, liquidity, and return. I’ll show you the best options in Nigeria right now (2026) and what I personally recommend for your situation.
Best Options to Grow ₦5M (From Safest → Higher Return)
🥇 1. FGN Savings Bond (Very Safe — Good for Passive Income)
Current returns around 12.9% – 15% per year (varies monthly)
Government-backed (very low risk)
Interest paid every 3 months
Minimum: ₦5,000 (so ₦5M is fine)
What ₦5M earns (Example)
14% of ₦5M = ₦700,000 per year
That’s about ₦175,000 every 3 months
✔ Very safe
✔ Passive income
✔ No stress
Where to buy
Through banks (First Bank, Access, Stanbic IBTC etc.)
Through stockbroker
Investment apps (Cowrywise, ARM, etc.)
🥈 2. Treasury Bills (Currently One of the Best)
Current rates around 15%–16%+ depending on tenor
Tenors:
91 days
182 days
364 days
₦5M Example
At 16%:
₦5M × 16% = ₦800,000 yearly
364-day = ₦800K profit
✔ Very safe
✔ Higher than savings account
✔ Flexible duration
Where to buy
Bank
Stockbroker
Apps (Cowrywise, Bamboo Fixed Income, ARM, etc.)
🥉 3. Money Market Funds (Flexible + Good Returns)
These invest in:
Treasury bills
Bonds
Commercial papers
Typical returns:
14% – 20% yearly (varies)
Best platforms in Nigeria:
Cowrywise
PiggyVest
ARM Money Market Fund
Stanbic IBTC Money Market Fund
✔ Withdraw anytime
✔ Good returns
✔ Easy mobile apps
My Best Strategy for Your ₦5M (Recommended Split)
To balance safety + income:
Smart Allocation
₦2M → Treasury Bills (Higher returns)
₦2M → Money Market Fund (Flexible)
₦1M → FGN Savings Bond (Stable passive income)
This gives:
Good interest
Flexibility
Safety
My Top Platforms (Easy to Use in Nigeria)
Best Overall:
Cowrywise
PiggyVest
ARM Investment App
Stanbic IBTC Invest App
These are widely used by Nigerians and beginner-friendly.
From real user discussions, many Nigerians use:
Risevest for long-term investing
Piggyvest for locked savings
Bamboo for stocks investing
What I Would Personally Do (If I Had ₦5M Today)
Put ₦3M Treasury Bills
Put ₦2M Money Market Fund
Expected yearly return:
Around ₦700k — ₦900k yearly
Monthly equivalent: ₦60k — ₦75k passive income
You do not need to go to a headquarters to buy the FGN Savings Bond. In Nigeria, the Federal Government Savings Bond (FGN Savings Bond) is retail-focused, and it is distributed through licensed intermediaries, mainly stockbrokers and issuing houses approved by the Debt Management Office (DMO). WhereRead more
You do not need to go to a headquarters to buy the FGN Savings Bond.
In Nigeria, the Federal Government Savings Bond (FGN Savings Bond) is retail-focused, and it is distributed through licensed intermediaries, mainly stockbrokers and issuing houses approved by the Debt Management Office (DMO).
Where you can actually buy it
You can buy it through any of the following channels:
1. Through licensed stockbrokers (main channel)
This is the official and primary route.
Examples include:
Stanbic IBTC Stockbrokers
ARM Securities
Afrinvest
Meristem
Other SEC-licensed broker/dealers
You fill the subscription form through them (online or physical), and they submit it to DMO on your behalf.
👉 This is the most reliable method.
2. Through partner banks (like First Bank, Access, Stanbic IBTC Bank branches)
Yes—but with an important clarification:
You are not buying “at the bank counter” like depositing money.
The bank acts as a distribution agent or facilitator, usually through its stockbroking arm or investment desk.
So:
✔ Stanbic IBTC → very active (bank + broker in one ecosystem)
✔ Access Bank / First Bank → possible via their investment/wealth subsidiaries or referral to partner brokers
❌ Not all branches process it directly at the teller level
3. Through SEC-licensed investment apps/platforms
Yes, this is increasingly common.
Some fintech/investment platforms route subscriptions through licensed brokers, so you can invest digitally without visiting a branch.
But important:
The platform must still connect to a licensed stockbroker behind the scenes.
Key takeaway (simple answer)
❌ Not only headquarters
❌ Not all bank branches directly process it
✔ You can buy it through:
Licensed stockbrokers (best and standard route)
Some bank investment arms (like Stanbic IBTC)
SEC-licensed investment platforms
Practical advice (based on how it works in reality)
If you want a smooth experience:
Open an account with a stockbroker (Stanbic IBTC Stockbrokers is the most straightforward for beginners)
Or use a regulated investment app that clearly states it processes FGN bonds via a licensed broker
Yes — there are stocks that do not pay dividends, and this is a very important concept in investing. Let’s break it down clearly so you can see the real differences and similarities. 1. What are dividend-paying vs non-dividend-paying stocks? A. Dividend-paying stocks These are companies that share pRead more
Yes — there are stocks that do not pay dividends, and this is a very important concept in investing.
Let’s break it down clearly so you can see the real differences and similarities.
1. What are dividend-paying vs non-dividend-paying stocks?
A. Dividend-paying stocks
These are companies that share part of their profit with shareholders regularly (quarterly, semi-annually, or annually).
Example behavior:
Company makes profit
Decides to distribute part of it as cash → called dividend
Typical examples:
Banks
Insurance companies
Mature industrial firms
B. Non-dividend-paying stocks
These are companies that do NOT distribute profits to shareholders.
Instead, they:
Reinvest profits back into the business
Focus on growth (expansion, technology, acquisitions)
Examples:
Fast-growing tech companies
Early-stage or expansion-focused firms
2. Key differences
Feature
Dividend Stocks
Non-Dividend Stocks
Cash payout
Yes (regular dividends)
No cash payouts
Investor return
Income + capital gain
Mainly capital gain
Company stage
Mature/stable
Growth-focused
Volatility
Usually lower
Often higher
Profit usage
Shared with investors
Reinvested in growth
Appeal
Income seekers
Growth investors
3. Similarities
Both types:
Are shares of ownership in a company
Can increase or decrease in price
Can generate profit through capital appreciation
Are traded on the same exchange (e.g. NGX)
Carry business risk (profit, loss, bankruptcy risk)
4. Simple real-life analogy
Think of it like two types of farms:
Dividend stock = “Harvest and share”
Farm produces crops
Owner sells some and gives you your share regularly
Non-dividend stock = “Reinvest everything”
Farm reinvests all harvest into expanding land
You profit only when farm becomes much bigger and more valuable
5. Which is better?
There is no universal answer — it depends on your goal:
Choose dividend stocks if you want:
Regular income (cash flow)
Stability
Long-term passive income
Choose non-dividend stocks if you want:
High growth potential
Wealth building over time
Willingness to wait
6. Important insight (very important for NGX investors)
On markets like the Nigerian Exchange Limited:
Many banks and large industrial firms pay dividends
Some growth or struggling firms may stop dividends temporarily
A company NOT paying dividends is NOT automatically bad — it may be reinvesting for expansion
7. Common mistake investors make
Many beginners assume:
“If a stock doesn’t pay dividends, it is useless”
That is incorrect.
Example reality:
Some of the biggest wealth-building stocks globally never paid dividends early in their life cycle
8. Key takeaway
Dividend stocks = income + stability
Non-dividend stocks = growth + capital appreciation
Both can make money — just in different ways
Good questions — this is exactly the kind of financial literacy that protects investors from avoidable losses in the Nigerian market. I’ll break it down clearly. 1. Fate of shareholders after delisting (DN Tyre & Greif Nigeria cases) When a company is delisted from the Nigerian Exchange LimitedRead more
Good questions — this is exactly the kind of financial literacy that protects investors from avoidable losses in the Nigerian market.
I’ll break it down clearly.
1. Fate of shareholders after delisting (DN Tyre & Greif Nigeria cases)
When a company is delisted from the Nigerian Exchange Limited (NGX), it does NOT automatically mean shareholders lose their investment.
Delisting simply means:
The company is no longer traded on the stock exchange
Its shares are no longer bought/sold publicly on NGX
What happens to shareholders depends on the type of delisting:
A. Voluntary delisting (company chooses to exit)
Usually happens due to:
Restructuring
Acquisition
Going private
👉 Shareholders are usually:
Paid cash buyout, OR
Given an offer to sell their shares at an agreed price
B. Regulatory / forced delisting (poor compliance, insolvency, inactivity)
This is more serious.
👉 Shareholders:
Still legally own shares
But cannot easily trade them
Value becomes illiquid (hard to convert to cash)
Sometimes:
The company is wound up (liquidation)
Or placed under receivership
2. Have shareholders lost all their money?
Short answer: NOT automatically — but risk becomes very high.
There are 3 possible outcomes:
Scenario 1: Company still operating privately
Shares still exist
Value depends on company performance
You may sell privately (rare and difficult)
Scenario 2: Liquidation (worst case)
If assets are sold off:
Creditors are paid first (banks, tax, suppliers)
Shareholders are LAST in line
👉 In many Nigerian cases:
Shareholders recover little or nothing
Scenario 3: Acquisition or restructuring
You may get cash or replacement shares
Depends on deal terms
3. Warning signs a listed company is in trouble
As an investor in the Nigerian market, especially NGX, these are critical red flags:
A. Financial warning signs
Look out for:
Consistent losses over several quarters
Declining revenue year-on-year
Negative retained earnings
Rising debt without growth
👉 If a company is “bleeding cash,” danger is near.
B. Regulatory / NGX compliance issues
Watch for:
Late filing of financial statements
“Query” or “suspension” notices from NGX
Auditor raising “going concern” warning
This is VERY important on Nigerian Exchange Limited.
C. Corporate governance red flags
Frequent change of CEOs/board members
Lack of transparency in annual reports
Insider disputes or lawsuits
Weak or missing dividends for long periods
D. Market signals
Sudden illiquidity (no buyers/sellers)
Continuous price decline without recovery
Share price stuck at very low levels for long periods
Heavy insider selling
E. Industry stress signals
Sector-wide decline (e.g. manufacturing, tyres, textiles)
Foreign exchange pressure (very relevant in Nigeria)
High import dependency companies suffering FX losses
4. Practical investor rule (very important)
When a stock shows 2–3 warning categories at the same time, treat it as HIGH RISK.
Example:
Loss-making + audit warning + NGX query = serious danger zone
5. Key takeaway
Delisting ≠ automatic loss
But it often leads to illiquidity and value destruction
Shareholders are the last to recover anything if liquidation happens
Yes — you can use one CSCS/CHN across different brokerage apps, including Afriinvest and Invest Niger. Here's the clear explanation: First, What Are CSCS and CHN? CSCS — Central Securities Clearing System Plc This is where your shares are actually stored in Nigeria. CHN (Clearing House Number) ThisRead more
Yes — you can use one CSCS/CHN across different brokerage apps, including Afriinvest and Invest Niger. Here’s the clear explanation:
First, What Are CSCS and CHN?
CSCS — Central Securities Clearing System Plc
This is where your shares are actually stored in Nigeria.
CHN (Clearing House Number)
This is your unique investor ID in CSCS. Think of it like your bank account number for shares.
Can You Use One CSCS/CHN for Multiple Brokers?
Yes. You can use one CHN for:
Afriinvest Securities
Invest Niger
Any other Nigerian broker
Because:
Your shares belong to YOU, not the broker
Brokers only help you buy/sell
CSCS is the central custodian
How It Works
You can:
Open account with Afriinvest → Use your existing CHN
Open account with Invest Niger → Use same CHN
Buy shares from both apps → Shares go into one CSCS account
Example:
Broker
Shares Bought
Where Stored
Afriinvest
GTCO
Same CSCS
Invest Niger
Dangote Cement
Same CSCS
Another broker
Zenith Bank
Same CSCS
All appear in one CSCS account.
Important Things to Know
Benefits of Using One CHN
All your shares in one place
Easier dividend tracking
Easier portfolio management
More secure ownership
When You Might Have Multiple CHNs
You may end up with multiple CHNs if:
You opened accounts with different brokers without linking existing CHN
Some brokers create new CHN automatically
But you can merge them later.
My Professional Advice (Best Practice)
Since you’re building wealth gradually (and you’re already learning investing seriously):
Use ONE CHN for all brokers
This keeps things clean and professional.
How To Check Your CSCS/CHN
You can check via:
Your broker (Afriinvest or Invest Niger)
CSCS statement
CSCS SMS/email alerts
CSCS Mobile App (if activated)
Building wealth from scratch is very possible — even if you're starting with low income. The key is to build 3 things in order: Daily Income (Cash Flow) Savings Discipline Investments (Wealth Growth) Let me show you the simple wealth-building roadmap. Step 1: First — Create Stable Income (Most ImporRead more
Building wealth from scratch is very possible — even if you’re starting with low income. The key is to build 3 things in order:
Daily Income (Cash Flow)
Savings Discipline
Investments (Wealth Growth)
Let me show you the simple wealth-building roadmap.
Step 1: First — Create Stable Income (Most Important)
Wealth starts with consistent income.
Since you’re a salary earner (₦90k), your first goal is:
Keep your job (stable base)
Add small daily income on the side
Good Daily Income Ideas (Low Capital)
You don’t need big money. Start small:
POS business
Phone charging business
Selling drinks/water
Buying & selling (small trading)
Recharge card/data reselling
Weekend delivery service
Even ₦2,000 profit daily =
₦2,000 × 30 days = ₦60,000 extra monthly
That alone can double your financial progress.
Step 2: Build Savings Habit (Even Small Amount)
You don’t need to save big first.
Start with:
₦5,000 monthly
OR
₦200 daily
Example: ₦200 daily = ₦6,000 monthly
₦6,000 × 12 = ₦72,000 yearly
This becomes your investment capital.
Step 3: Build Emergency Fund (Very Important)
Before investing: Save at least:
₦50,000 — ₦100,000 emergency fund
This protects you from:
Unexpected expenses
Borrowing
Selling investments early
Step 4: Start Investing (After Saving Small Capital)
Start with safe investments:
Beginner-friendly options:
Money Market Fund
Government Bonds
Dividend Stocks
For example:
Federal Government of Nigeria Savings Bond (very safe)
Money Market Fund (safe + flexible)
Step 5: Reinvest Your Profits (Wealth Multiplier)
This is where wealth grows:
Don’t spend profits
Reinvest them
Example:
Invest ₦50,000
Earn ₦6,000 interest
Reinvest ₦56,000
This is compound growth.
Step 6: The Wealth Formula (Simple)
Income → Save → Invest → Reinvest → Repeat
Do this for:
1 year → noticeable growth
3 years → serious progress
5 years → financial stability
What You Need From The Start
You don’t need: ❌ Big salary
❌ Rich parents
❌ Big capital
You only need: ✅ Discipline
✅ Consistency
✅ Patience
✅ Learning mindset
You’re already doing this by asking questions.
My Honest Advice For You (Based On Your Situation)
Start like this:
This Month:
Save ₦5,000
Look for small daily income idea
Next 3 Months:
Build ₦30k–₦50k savings
After 3–6 Months:
Start investing
Yes — buying Government bonds is one of the safest investments for beginners. In Nigeria, government bonds are considered low-risk because they are backed by the government. For example: Debt Management Office Nigeria issues bonds on behalf of the government The Federal Government of Nigeria guarantRead more
Yes — buying Government bonds is one of the safest investments for beginners. In Nigeria, government bonds are considered low-risk because they are backed by the government.
For example:
Debt Management Office Nigeria issues bonds on behalf of the government
The Federal Government of Nigeria guarantees repayment
That means:
You get your interest + capital back (unless an extremely rare government default happens).
Why Government Bonds Are Good for Beginners
✅ Very safe
✅ Predictable returns
✅ Paid interest regularly
✅ Good for long-term wealth
✅ Better than leaving money in savings account
Types of Government Bonds in Nigeria
1. FGN Savings Bond (Best for Beginners)
Features:
Minimum: ₦5,000
Interest paid: Every 3 months
Duration: 2–3 years
Very safe
This is what you recently bought — good decision 👍
2. FGN Treasury Bills (Short-Term)
Features:
Duration: 91 days, 182 days, 364 days
Very safe
Good for short-term savings
3. FGN Bonds (Long-Term)
Features:
Duration: 5–20 years
Higher returns
Good for long-term investors
Risk Level (Simple Comparison)
Investment
Risk Level
Government Bonds
Very Low
Money Market Fund
Very Low
Stocks
Medium–High
Crypto
Very High
My Honest Advice (Based on Your Situation)
Since you:
Earn salary
Want to build wealth
Already learning investing
Start with:
Government bonds (safe foundation)
Then gradually add:
Money market fund
Dividend stocks
Index funds
This is how smart investors build wealth safely.
One more thing — very important: Government bonds are safe, but they won’t make you rich fast.
They are best for:
Stability
Capital preservation
Slow wealth building
Yes — you can invest in U.S. index funds like the S&P 500 from Nigeria. You don’t need a U.S. bank account or travel abroad. You only need a global brokerage platform that accepts Nigerians. First: You Cannot Buy the S&P 500 Directly You invest in the S&P 500 using ETFs (Index Funds) sucRead more
Yes — you can invest in U.S. index funds like the S&P 500 from Nigeria.
You don’t need a U.S. bank account or travel abroad. You only need a global brokerage platform that accepts Nigerians.
First: You Cannot Buy the S&P 500 Directly
You invest in the S&P 500 using ETFs (Index Funds) such as:
VOO (Vanguard S&P 500 ETF)
SPY (SPDR S&P 500 ETF)
IVV (iShares Core S&P 500 ETF)
These track the 500 largest U.S. companies like Apple, Microsoft, Amazon, etc.
Stock Brokers Nigerians Can Use (Best Options)
1. Bamboo (Most Popular in Nigeria)
Access to 3,000+ US stocks & ETFs
Buy S&P 500 ETFs like VOO, SPY, QQQ
Fund with Naira → converted to USD
Fractional shares available (start small)
Minimum from about $10
Best For:
Beginners
Long-term investors
2. Trove (More Advanced Control)
Access to US, Nigerian & Chinese markets
ETFs available including S&P 500
Fractional shares
Good for active investors
Best For:
People who want control
Active investors
3. Chaka (Regulated & Stable)
Access to 4,000+ global assets
Includes ETFs and index funds
Minimum around $10
Best For:
Long-term investors
Diversification
4. Risevest (Managed Investing)
Invest in US stocks & ETFs
Experts manage portfolio
Less control but simpler
Best For:
Passive investors
Beginners who don’t want to pick stocks
My Honest Ranking (For Nigerians)
Best Overall:
Bamboo (Easy + Beginner Friendly)
Trove (More features)
Chaka (Stable + regulated)
Risevest (Hands-off investing)
My Personal Recommendation (Based on Your Situation)
Since you’re:
Salary earner
Building wealth gradually
Interested in index funds
Start with: 👉 Bamboo or Trove
Then buy:
VOO (Best for long term)
SPY (Most popular)
QQQ (Growth focused)
Why S&P 500 is Powerful (Long-Term)
Historically:
Average return: 8% — 10% yearly
Dollar-denominated (protects against Naira depreciation)
Very diversified
This is why many investors call it:
“The easiest path to long-term wealth”
How do I file Tax annual returns for my company in Nigeria for the first time?
This is an important question — and you're not alone. Many business owners register a company and forget about Annual Returns. Let me clarify properly because there are TWO different Annual Returns in Nigeria: 1. CAC Annual Returns (Company Status) This is filed with the Corporate Affairs CommissionRead more
This is an important question — and you’re not alone. Many business owners register a company and forget about Annual Returns.
See lessLet me clarify properly because there are TWO different Annual Returns in Nigeria:
1. CAC Annual Returns (Company Status)
This is filed with the
Corporate Affairs Commission (CAC)
This is NOT tax — it’s just to confirm your company is still active.
Why It’s Important
If you don’t file CAC annual returns:
Your company becomes inactive
CAC may strike off your company
You may pay penalties
When to File
Every year after your company anniversary
Example:
Company registered March 2022
First annual return due March 2023
2. Tax Annual Returns (FIRS / State Tax)
This is filed with:
Federal Inland Revenue Service (FIRS) — for companies
State Internal Revenue Service — for PAYE (if you have employees)
This includes:
Company Income Tax (CIT)
Education Tax
VAT (if applicable)
Filed through:
TaxPro Max
Since You Haven’t Filed Since Registration — Here’s What To Do
Step 1 — Check Your Company Status
Go to CAC portal:
https://post.cac.gov.ng
Check:
Is your company still active?
How many years outstanding?
Step 2 — File CAC Annual Returns
You’ll need:
Company RC number
Director details
Company address
You can:
File yourself online
Use an agent (₦10k–₦25k typically depending on years owed)
Step 3 — File Tax Returns (Even If No Business Yet)
Very important:
Even if your company:
Didn’t operate
Made no profit
Was dormant
You must still file “Nil Returns”
This avoids penalties.
Estimated Penalties (Don’t Panic Yet)
Typical:
CAC Annual Return penalty: ₦5,000–₦10,000 per year
Tax penalty varies depending on company size
But many times:
Agents help reduce penalties
Or you can request waiver
What can I do if I lost my share certificate and stopped receiving dividends in Nigeria?
You're not alone — this happens to many Nigerians who bought shares years ago. The good news is your shares are NOT lost, even if: You stopped receiving dividends You misplaced your share certificate It's been over 10 years Let me walk you through exactly what to do step-by-step 👇 First — Your ShareRead more
You’re not alone — this happens to many Nigerians who bought shares years ago. The good news is your shares are NOT lost, even if:
See lessYou stopped receiving dividends
You misplaced your share certificate
It’s been over 10 years
Let me walk you through exactly what to do step-by-step 👇
First — Your Shares Are Still Yours
If you bought shares in:
Access Holdings Plc (formerly Access Bank)
DAAR Communications Plc (owners of African Independent Television (AIT))
Your shares are recorded in:
Registrar records
Or Central Securities Clearing System (CSCS)
So even if certificate is lost, you can recover everything.
Why You Stopped Receiving Dividends
Most likely reasons:
You didn’t complete E-Dividend registration
Your address changed
Registrar couldn’t reach you
Dividends moved to Unclaimed Dividend Account
Don’t worry — you can still claim them (even after 10 years).
Step-By-Step: What You Should Do Now
Step 1 — Contact the Registrars
Every company has a registrar managing shareholder records.
For Access Holdings
Registrar:
Coronation Registrars Limited
For DAAR Communications
Registrar:
Africa Prudential Plc
Contact them and tell them:
“I bought shares over 10 years ago, lost my certificate, and stopped receiving dividends. I want to update my records and claim my dividends.”
Step 2 — Request These Things
Tell them you want:
Share verification
Lost certificate replacement
Unclaimed dividend claim
E-Dividend registration
Step 3 — Documents You’ll Need
Usually:
Valid ID (NIN / Driver’s License / Passport)
Passport photograph
Bank account details
Old address (if you remember)
Phone number used then (if possible)
Step 4 — Fill E-Dividend Form
This ensures:
Dividends go directly to your bank
No more lost dividend letters
Very Important (Good News)
Even if you never claimed dividends for 10 years:
You can still recover:
All past dividends
Bonus shares (if any)
Rights issues (if any)
One More Thing — Your Shares May Have Grown
For example:
Access Holdings Plc has issued bonus shares multiple times
Your original shares may now be more than you bought
You might be surprised how much you now own.
Faster Option (Recommended)
You can also go through:
Your stockbroker (if you remember who you used)
Or any new stockbroker to help trace
They can check through:
Nigerian Exchange Group
Central Securities Clearing System
What Are the Best Investment Options in Nigeria for ₦5 Million in 2026 for Passive Income and High Returns?
If you have ₦5,000,000 sitting idle, you're actually in a very good position. The key is to balance safety, liquidity, and return. I'll show you the best options in Nigeria right now (2026) and what I personally recommend for your situation. Best Options to Grow ₦5M (From Safest → Higher Return) 🥇 1Read more
If you have ₦5,000,000 sitting idle, you’re actually in a very good position. The key is to balance safety, liquidity, and return. I’ll show you the best options in Nigeria right now (2026) and what I personally recommend for your situation.
See lessBest Options to Grow ₦5M (From Safest → Higher Return)
🥇 1. FGN Savings Bond (Very Safe — Good for Passive Income)
Current returns around 12.9% – 15% per year (varies monthly)
Government-backed (very low risk)
Interest paid every 3 months
Minimum: ₦5,000 (so ₦5M is fine)
What ₦5M earns (Example)
14% of ₦5M = ₦700,000 per year
That’s about ₦175,000 every 3 months
✔ Very safe
✔ Passive income
✔ No stress
Where to buy
Through banks (First Bank, Access, Stanbic IBTC etc.)
Through stockbroker
Investment apps (Cowrywise, ARM, etc.)
🥈 2. Treasury Bills (Currently One of the Best)
Current rates around 15%–16%+ depending on tenor
Tenors:
91 days
182 days
364 days
₦5M Example
At 16%:
₦5M × 16% = ₦800,000 yearly
364-day = ₦800K profit
✔ Very safe
✔ Higher than savings account
✔ Flexible duration
Where to buy
Bank
Stockbroker
Apps (Cowrywise, Bamboo Fixed Income, ARM, etc.)
🥉 3. Money Market Funds (Flexible + Good Returns)
These invest in:
Treasury bills
Bonds
Commercial papers
Typical returns:
14% – 20% yearly (varies)
Best platforms in Nigeria:
Cowrywise
PiggyVest
ARM Money Market Fund
Stanbic IBTC Money Market Fund
✔ Withdraw anytime
✔ Good returns
✔ Easy mobile apps
My Best Strategy for Your ₦5M (Recommended Split)
To balance safety + income:
Smart Allocation
₦2M → Treasury Bills (Higher returns)
₦2M → Money Market Fund (Flexible)
₦1M → FGN Savings Bond (Stable passive income)
This gives:
Good interest
Flexibility
Safety
My Top Platforms (Easy to Use in Nigeria)
Best Overall:
Cowrywise
PiggyVest
ARM Investment App
Stanbic IBTC Invest App
These are widely used by Nigerians and beginner-friendly.
From real user discussions, many Nigerians use:
Risevest for long-term investing
Piggyvest for locked savings
Bamboo for stocks investing
What I Would Personally Do (If I Had ₦5M Today)
Put ₦3M Treasury Bills
Put ₦2M Money Market Fund
Expected yearly return:
Around ₦700k — ₦900k yearly
Monthly equivalent: ₦60k — ₦75k passive income
Where can I buy Federal Government of Nigeria (FGN) Savings Bonds in Nigeria?
You do not need to go to a headquarters to buy the FGN Savings Bond. In Nigeria, the Federal Government Savings Bond (FGN Savings Bond) is retail-focused, and it is distributed through licensed intermediaries, mainly stockbrokers and issuing houses approved by the Debt Management Office (DMO). WhereRead more
You do not need to go to a headquarters to buy the FGN Savings Bond.
See lessIn Nigeria, the Federal Government Savings Bond (FGN Savings Bond) is retail-focused, and it is distributed through licensed intermediaries, mainly stockbrokers and issuing houses approved by the Debt Management Office (DMO).
Where you can actually buy it
You can buy it through any of the following channels:
1. Through licensed stockbrokers (main channel)
This is the official and primary route.
Examples include:
Stanbic IBTC Stockbrokers
ARM Securities
Afrinvest
Meristem
Other SEC-licensed broker/dealers
You fill the subscription form through them (online or physical), and they submit it to DMO on your behalf.
👉 This is the most reliable method.
2. Through partner banks (like First Bank, Access, Stanbic IBTC Bank branches)
Yes—but with an important clarification:
You are not buying “at the bank counter” like depositing money.
The bank acts as a distribution agent or facilitator, usually through its stockbroking arm or investment desk.
So:
✔ Stanbic IBTC → very active (bank + broker in one ecosystem)
✔ Access Bank / First Bank → possible via their investment/wealth subsidiaries or referral to partner brokers
❌ Not all branches process it directly at the teller level
3. Through SEC-licensed investment apps/platforms
Yes, this is increasingly common.
Some fintech/investment platforms route subscriptions through licensed brokers, so you can invest digitally without visiting a branch.
But important:
The platform must still connect to a licensed stockbroker behind the scenes.
Key takeaway (simple answer)
❌ Not only headquarters
❌ Not all bank branches directly process it
✔ You can buy it through:
Licensed stockbrokers (best and standard route)
Some bank investment arms (like Stanbic IBTC)
SEC-licensed investment platforms
Practical advice (based on how it works in reality)
If you want a smooth experience:
Open an account with a stockbroker (Stanbic IBTC Stockbrokers is the most straightforward for beginners)
Or use a regulated investment app that clearly states it processes FGN bonds via a licensed broker
What's the difference between Dividend paying stocks and non Dividend paying, if there is?
Yes — there are stocks that do not pay dividends, and this is a very important concept in investing. Let’s break it down clearly so you can see the real differences and similarities. 1. What are dividend-paying vs non-dividend-paying stocks? A. Dividend-paying stocks These are companies that share pRead more
Yes — there are stocks that do not pay dividends, and this is a very important concept in investing.
See lessLet’s break it down clearly so you can see the real differences and similarities.
1. What are dividend-paying vs non-dividend-paying stocks?
A. Dividend-paying stocks
These are companies that share part of their profit with shareholders regularly (quarterly, semi-annually, or annually).
Example behavior:
Company makes profit
Decides to distribute part of it as cash → called dividend
Typical examples:
Banks
Insurance companies
Mature industrial firms
B. Non-dividend-paying stocks
These are companies that do NOT distribute profits to shareholders.
Instead, they:
Reinvest profits back into the business
Focus on growth (expansion, technology, acquisitions)
Examples:
Fast-growing tech companies
Early-stage or expansion-focused firms
2. Key differences
Feature
Dividend Stocks
Non-Dividend Stocks
Cash payout
Yes (regular dividends)
No cash payouts
Investor return
Income + capital gain
Mainly capital gain
Company stage
Mature/stable
Growth-focused
Volatility
Usually lower
Often higher
Profit usage
Shared with investors
Reinvested in growth
Appeal
Income seekers
Growth investors
3. Similarities
Both types:
Are shares of ownership in a company
Can increase or decrease in price
Can generate profit through capital appreciation
Are traded on the same exchange (e.g. NGX)
Carry business risk (profit, loss, bankruptcy risk)
4. Simple real-life analogy
Think of it like two types of farms:
Dividend stock = “Harvest and share”
Farm produces crops
Owner sells some and gives you your share regularly
Non-dividend stock = “Reinvest everything”
Farm reinvests all harvest into expanding land
You profit only when farm becomes much bigger and more valuable
5. Which is better?
There is no universal answer — it depends on your goal:
Choose dividend stocks if you want:
Regular income (cash flow)
Stability
Long-term passive income
Choose non-dividend stocks if you want:
High growth potential
Wealth building over time
Willingness to wait
6. Important insight (very important for NGX investors)
On markets like the Nigerian Exchange Limited:
Many banks and large industrial firms pay dividends
Some growth or struggling firms may stop dividends temporarily
A company NOT paying dividends is NOT automatically bad — it may be reinvesting for expansion
7. Common mistake investors make
Many beginners assume:
“If a stock doesn’t pay dividends, it is useless”
That is incorrect.
Example reality:
Some of the biggest wealth-building stocks globally never paid dividends early in their life cycle
8. Key takeaway
Dividend stocks = income + stability
Non-dividend stocks = growth + capital appreciation
Both can make money — just in different ways
Do investors lose their money when a company is delisted from the NGX in Nigeria?
Good questions — this is exactly the kind of financial literacy that protects investors from avoidable losses in the Nigerian market. I’ll break it down clearly. 1. Fate of shareholders after delisting (DN Tyre & Greif Nigeria cases) When a company is delisted from the Nigerian Exchange LimitedRead more
Good questions — this is exactly the kind of financial literacy that protects investors from avoidable losses in the Nigerian market.
See lessI’ll break it down clearly.
1. Fate of shareholders after delisting (DN Tyre & Greif Nigeria cases)
When a company is delisted from the Nigerian Exchange Limited (NGX), it does NOT automatically mean shareholders lose their investment.
Delisting simply means:
The company is no longer traded on the stock exchange
Its shares are no longer bought/sold publicly on NGX
What happens to shareholders depends on the type of delisting:
A. Voluntary delisting (company chooses to exit)
Usually happens due to:
Restructuring
Acquisition
Going private
👉 Shareholders are usually:
Paid cash buyout, OR
Given an offer to sell their shares at an agreed price
B. Regulatory / forced delisting (poor compliance, insolvency, inactivity)
This is more serious.
👉 Shareholders:
Still legally own shares
But cannot easily trade them
Value becomes illiquid (hard to convert to cash)
Sometimes:
The company is wound up (liquidation)
Or placed under receivership
2. Have shareholders lost all their money?
Short answer: NOT automatically — but risk becomes very high.
There are 3 possible outcomes:
Scenario 1: Company still operating privately
Shares still exist
Value depends on company performance
You may sell privately (rare and difficult)
Scenario 2: Liquidation (worst case)
If assets are sold off:
Creditors are paid first (banks, tax, suppliers)
Shareholders are LAST in line
👉 In many Nigerian cases:
Shareholders recover little or nothing
Scenario 3: Acquisition or restructuring
You may get cash or replacement shares
Depends on deal terms
3. Warning signs a listed company is in trouble
As an investor in the Nigerian market, especially NGX, these are critical red flags:
A. Financial warning signs
Look out for:
Consistent losses over several quarters
Declining revenue year-on-year
Negative retained earnings
Rising debt without growth
👉 If a company is “bleeding cash,” danger is near.
B. Regulatory / NGX compliance issues
Watch for:
Late filing of financial statements
“Query” or “suspension” notices from NGX
Auditor raising “going concern” warning
This is VERY important on Nigerian Exchange Limited.
C. Corporate governance red flags
Frequent change of CEOs/board members
Lack of transparency in annual reports
Insider disputes or lawsuits
Weak or missing dividends for long periods
D. Market signals
Sudden illiquidity (no buyers/sellers)
Continuous price decline without recovery
Share price stuck at very low levels for long periods
Heavy insider selling
E. Industry stress signals
Sector-wide decline (e.g. manufacturing, tyres, textiles)
Foreign exchange pressure (very relevant in Nigeria)
High import dependency companies suffering FX losses
4. Practical investor rule (very important)
When a stock shows 2–3 warning categories at the same time, treat it as HIGH RISK.
Example:
Loss-making + audit warning + NGX query = serious danger zone
5. Key takeaway
Delisting ≠ automatic loss
But it often leads to illiquidity and value destruction
Shareholders are the last to recover anything if liquidation happens
Can I use one CSCS number and CHN across different investment apps in Nigeria?
Yes — you can use one CSCS/CHN across different brokerage apps, including Afriinvest and Invest Niger. Here's the clear explanation: First, What Are CSCS and CHN? CSCS — Central Securities Clearing System Plc This is where your shares are actually stored in Nigeria. CHN (Clearing House Number) ThisRead more
Yes — you can use one CSCS/CHN across different brokerage apps, including Afriinvest and Invest Niger. Here’s the clear explanation:
See lessFirst, What Are CSCS and CHN?
CSCS — Central Securities Clearing System Plc
This is where your shares are actually stored in Nigeria.
CHN (Clearing House Number)
This is your unique investor ID in CSCS. Think of it like your bank account number for shares.
Can You Use One CSCS/CHN for Multiple Brokers?
Yes. You can use one CHN for:
Afriinvest Securities
Invest Niger
Any other Nigerian broker
Because:
Your shares belong to YOU, not the broker
Brokers only help you buy/sell
CSCS is the central custodian
How It Works
You can:
Open account with Afriinvest → Use your existing CHN
Open account with Invest Niger → Use same CHN
Buy shares from both apps → Shares go into one CSCS account
Example:
Broker
Shares Bought
Where Stored
Afriinvest
GTCO
Same CSCS
Invest Niger
Dangote Cement
Same CSCS
Another broker
Zenith Bank
Same CSCS
All appear in one CSCS account.
Important Things to Know
Benefits of Using One CHN
All your shares in one place
Easier dividend tracking
Easier portfolio management
More secure ownership
When You Might Have Multiple CHNs
You may end up with multiple CHNs if:
You opened accounts with different brokers without linking existing CHN
Some brokers create new CHN automatically
But you can merge them later.
My Professional Advice (Best Practice)
Since you’re building wealth gradually (and you’re already learning investing seriously):
Use ONE CHN for all brokers
This keeps things clean and professional.
How To Check Your CSCS/CHN
You can check via:
Your broker (Afriinvest or Invest Niger)
CSCS statement
CSCS SMS/email alerts
CSCS Mobile App (if activated)
How can I build wealth from scratch in Nigeria as a beginner?
Building wealth from scratch is very possible — even if you're starting with low income. The key is to build 3 things in order: Daily Income (Cash Flow) Savings Discipline Investments (Wealth Growth) Let me show you the simple wealth-building roadmap. Step 1: First — Create Stable Income (Most ImporRead more
Building wealth from scratch is very possible — even if you’re starting with low income. The key is to build 3 things in order:
See lessDaily Income (Cash Flow)
Savings Discipline
Investments (Wealth Growth)
Let me show you the simple wealth-building roadmap.
Step 1: First — Create Stable Income (Most Important)
Wealth starts with consistent income.
Since you’re a salary earner (₦90k), your first goal is:
Keep your job (stable base)
Add small daily income on the side
Good Daily Income Ideas (Low Capital)
You don’t need big money. Start small:
POS business
Phone charging business
Selling drinks/water
Buying & selling (small trading)
Recharge card/data reselling
Weekend delivery service
Even ₦2,000 profit daily =
₦2,000 × 30 days = ₦60,000 extra monthly
That alone can double your financial progress.
Step 2: Build Savings Habit (Even Small Amount)
You don’t need to save big first.
Start with:
₦5,000 monthly
OR
₦200 daily
Example: ₦200 daily = ₦6,000 monthly
₦6,000 × 12 = ₦72,000 yearly
This becomes your investment capital.
Step 3: Build Emergency Fund (Very Important)
Before investing: Save at least:
₦50,000 — ₦100,000 emergency fund
This protects you from:
Unexpected expenses
Borrowing
Selling investments early
Step 4: Start Investing (After Saving Small Capital)
Start with safe investments:
Beginner-friendly options:
Money Market Fund
Government Bonds
Dividend Stocks
For example:
Federal Government of Nigeria Savings Bond (very safe)
Money Market Fund (safe + flexible)
Step 5: Reinvest Your Profits (Wealth Multiplier)
This is where wealth grows:
Don’t spend profits
Reinvest them
Example:
Invest ₦50,000
Earn ₦6,000 interest
Reinvest ₦56,000
This is compound growth.
Step 6: The Wealth Formula (Simple)
Income → Save → Invest → Reinvest → Repeat
Do this for:
1 year → noticeable growth
3 years → serious progress
5 years → financial stability
What You Need From The Start
You don’t need: ❌ Big salary
❌ Rich parents
❌ Big capital
You only need: ✅ Discipline
✅ Consistency
✅ Patience
✅ Learning mindset
You’re already doing this by asking questions.
My Honest Advice For You (Based On Your Situation)
Start like this:
This Month:
Save ₦5,000
Look for small daily income idea
Next 3 Months:
Build ₦30k–₦50k savings
After 3–6 Months:
Start investing
Is investing in Nigerian government bonds a good option for beginners?
Yes — buying Government bonds is one of the safest investments for beginners. In Nigeria, government bonds are considered low-risk because they are backed by the government. For example: Debt Management Office Nigeria issues bonds on behalf of the government The Federal Government of Nigeria guarantRead more
Yes — buying Government bonds is one of the safest investments for beginners. In Nigeria, government bonds are considered low-risk because they are backed by the government.
See lessFor example:
Debt Management Office Nigeria issues bonds on behalf of the government
The Federal Government of Nigeria guarantees repayment
That means:
You get your interest + capital back (unless an extremely rare government default happens).
Why Government Bonds Are Good for Beginners
✅ Very safe
✅ Predictable returns
✅ Paid interest regularly
✅ Good for long-term wealth
✅ Better than leaving money in savings account
Types of Government Bonds in Nigeria
1. FGN Savings Bond (Best for Beginners)
Features:
Minimum: ₦5,000
Interest paid: Every 3 months
Duration: 2–3 years
Very safe
This is what you recently bought — good decision 👍
2. FGN Treasury Bills (Short-Term)
Features:
Duration: 91 days, 182 days, 364 days
Very safe
Good for short-term savings
3. FGN Bonds (Long-Term)
Features:
Duration: 5–20 years
Higher returns
Good for long-term investors
Risk Level (Simple Comparison)
Investment
Risk Level
Government Bonds
Very Low
Money Market Fund
Very Low
Stocks
Medium–High
Crypto
Very High
My Honest Advice (Based on Your Situation)
Since you:
Earn salary
Want to build wealth
Already learning investing
Start with:
Government bonds (safe foundation)
Then gradually add:
Money market fund
Dividend stocks
Index funds
This is how smart investors build wealth safely.
One more thing — very important: Government bonds are safe, but they won’t make you rich fast.
They are best for:
Stability
Capital preservation
Slow wealth building
How can I invest in S&P 500 index funds from Nigeria in 2026?
Yes — you can invest in U.S. index funds like the S&P 500 from Nigeria. You don’t need a U.S. bank account or travel abroad. You only need a global brokerage platform that accepts Nigerians. First: You Cannot Buy the S&P 500 Directly You invest in the S&P 500 using ETFs (Index Funds) sucRead more
Yes — you can invest in U.S. index funds like the S&P 500 from Nigeria.
See lessYou don’t need a U.S. bank account or travel abroad. You only need a global brokerage platform that accepts Nigerians.
First: You Cannot Buy the S&P 500 Directly
You invest in the S&P 500 using ETFs (Index Funds) such as:
VOO (Vanguard S&P 500 ETF)
SPY (SPDR S&P 500 ETF)
IVV (iShares Core S&P 500 ETF)
These track the 500 largest U.S. companies like Apple, Microsoft, Amazon, etc.
Stock Brokers Nigerians Can Use (Best Options)
1. Bamboo (Most Popular in Nigeria)
Access to 3,000+ US stocks & ETFs
Buy S&P 500 ETFs like VOO, SPY, QQQ
Fund with Naira → converted to USD
Fractional shares available (start small)
Minimum from about $10
Best For:
Beginners
Long-term investors
2. Trove (More Advanced Control)
Access to US, Nigerian & Chinese markets
ETFs available including S&P 500
Fractional shares
Good for active investors
Best For:
People who want control
Active investors
3. Chaka (Regulated & Stable)
Access to 4,000+ global assets
Includes ETFs and index funds
Minimum around $10
Best For:
Long-term investors
Diversification
4. Risevest (Managed Investing)
Invest in US stocks & ETFs
Experts manage portfolio
Less control but simpler
Best For:
Passive investors
Beginners who don’t want to pick stocks
My Honest Ranking (For Nigerians)
Best Overall:
Bamboo (Easy + Beginner Friendly)
Trove (More features)
Chaka (Stable + regulated)
Risevest (Hands-off investing)
My Personal Recommendation (Based on Your Situation)
Since you’re:
Salary earner
Building wealth gradually
Interested in index funds
Start with: 👉 Bamboo or Trove
Then buy:
VOO (Best for long term)
SPY (Most popular)
QQQ (Growth focused)
Why S&P 500 is Powerful (Long-Term)
Historically:
Average return: 8% — 10% yearly
Dollar-denominated (protects against Naira depreciation)
Very diversified
This is why many investors call it:
“The easiest path to long-term wealth”