Your wife likely still owns the shares if she is receiving dividend warrants or dividend notices. That means the shares are probably still active in her name.
Since you mentioned:
First Bank of Nigeria Holdings Plc (now FirstHoldCo),
and Skye Bank Plc,
there are important things to understand before selling.
Step 1 — Confirm Whether the Shares Still Exist
First Bank Shares
First Bank shares are still valid because the bank still exists under:
FirstHoldCo Plc (formerly FBN Holdings)
Those shares can usually still be sold normally.
Skye Bank Shares
This one is more complicated.
Skye Bank Plc was dissolved after regulatory intervention and replaced by Polaris Bank.
In many cases:
old Skye Bank shareholders lost substantial value,
and ordinary shares may no longer trade normally on NGX.
So first verify whether:
the shares still exist in CSCS,
or became worthless/delisted.
Do not assume they still have market value.
Step 2 — Locate the Share Details
Search for:
Share certificates
Dividend warrants
CSCS statements
Registrar letters
CHN number
Any old broker documents
The dividend letters usually contain:
shareholder number,
registrar name,
units owned.
This is very important.
Step 3 — Identify the Registrar
The dividend paper normally shows the registrar responsible.
For example: FirstHoldCo commonly uses registrars like:
First Registrars and Investor Services
The registrar can help confirm:
exact number of shares,
unpaid dividends,
whether shares are dematerialized into CSCS,
whether e-dividend is active.
Step 4 — Open or Verify a CSCS Account
To sell Nigerian shares today, the shares normally need to be inside a:
Central Securities Clearing System (CSCS) account.
If your wife already has one:
good.
If not:
a stockbroker can help open one.
Without CSCS, selling becomes difficult.
Step 5 — Transfer Physical Shares Into CSCS (if necessary)
If the shares are still paper certificates:
the broker will help “dematerialize” them into electronic form.
This process can take:
days to weeks.
Step 6 — Choose a Reliable Stockbroker
In Nigeria, reliability matters more than hype.
You want:
SEC-registered,
NGX-authorized,
responsive customer service,
proper CSCS integration,
physical office presence.
Commonly used brokers include:
Meristem Securities
CardinalStone Securities
Stanbic IBTC Stockbrokers
APT Securities
United Capital Securities
What Makes a Broker “Reliable”?
A reliable broker should:
provide CSCS alerts,
send contract notes after trades,
allow online access,
explain fees clearly,
have SEC registration,
not delay withdrawals,
have actual customer support.
Avoid:
random WhatsApp “investment agents,”
unregistered online schemes,
anyone promising guaranteed profits.
Step 7 — How the Sale Actually Happens
Once the shares appear in CSCS:
The broker:
receives sell instruction,
sells on NGX,
deducts fees,
credits the bank account.
Settlement in Nigeria is usually around: T+3 (about 3 business days after sale).
Very Important Before Selling
Do NOT rush to sell immediately.
Check:
current market price,
dividend history,
whether the shares are still fundamentally strong.
For example, FirstHoldCo shares may still generate:
dividends,
long-term appreciation.
Sometimes inherited or forgotten shares become surprisingly valuable after many years.
Best Immediate Action
I recommend this exact order:
Gather all dividend papers/certificates
Identify the registrars
Confirm exact holdings
Open/verify CSCS
Choose broker
Dematerialize shares if needed
Then decide whether to sell