Dematerialisation involves verification of the physical certificates by the registrar, after which the electronic records are sent to CSCS. CSCS itself says stockbrokers submit the documents to registrars for verification, and the registrars send the verified records to CSCS. SEC Nigeria +1 What couRead more
Dematerialisation involves verification of the physical certificates by the registrar, after which the electronic records are sent to CSCS. CSCS itself says stockbrokers submit the documents to registrars for verification, and the registrars send the verified records to CSCS.
SEC Nigeria +1
What could be causing the delay?
The most likely possibilities are:
Problem with some of the share certificates
The 50 shares may have passed verification while the remaining certificates have an issue.
There could be differences in the shareholder’s name, certificate number, number of shares, signature, address or other details.
Registrar verification problem
The registrar may still be trying to reconcile your physical certificates with its old shareholder records.
This is particularly possible with older shares or certificates originating from different companies/mergers.
Incomplete or inconsistent shareholder information
Your name on the certificate may differ from your current CSCS/broker account.
BVN, NIN, date of birth, address or other KYC information may need correction.
Multiple certificates
If the 675 shares consist of several certificates, some may have been successfully verified while others are being queried.
The broker may be waiting for the registrar
This is important: the broker may not be the party that can finally approve the remaining shares. The registrar maintains the shareholder records and verifies the certificates.
Why Are My Dematerialized Shares Not Fully Credited to My CSCS Account in Nigeria?
Dematerialisation involves verification of the physical certificates by the registrar, after which the electronic records are sent to CSCS. CSCS itself says stockbrokers submit the documents to registrars for verification, and the registrars send the verified records to CSCS. SEC Nigeria +1 What couRead more
Dematerialisation involves verification of the physical certificates by the registrar, after which the electronic records are sent to CSCS. CSCS itself says stockbrokers submit the documents to registrars for verification, and the registrars send the verified records to CSCS.
See lessSEC Nigeria +1
What could be causing the delay?
The most likely possibilities are:
Problem with some of the share certificates
The 50 shares may have passed verification while the remaining certificates have an issue.
There could be differences in the shareholder’s name, certificate number, number of shares, signature, address or other details.
Registrar verification problem
The registrar may still be trying to reconcile your physical certificates with its old shareholder records.
This is particularly possible with older shares or certificates originating from different companies/mergers.
Incomplete or inconsistent shareholder information
Your name on the certificate may differ from your current CSCS/broker account.
BVN, NIN, date of birth, address or other KYC information may need correction.
Multiple certificates
If the 675 shares consist of several certificates, some may have been successfully verified while others are being queried.
The broker may be waiting for the registrar
This is important: the broker may not be the party that can finally approve the remaining shares. The registrar maintains the shareholder records and verifies the certificates.