Stocks are sold through the stock exchange using a licensed stockbroker or brokerage app. In Nigeria, shares are traded mainly on the Nigerian Exchange Group (NGX). Here is the practical process from start to finish: How Stocks Are Sold When you sell shares: You instruct your broker to sell. Your brRead more
Stocks are sold through the stock exchange using a licensed stockbroker or brokerage app. In Nigeria, shares are traded mainly on the Nigerian Exchange Group (NGX).
Here is the practical process from start to finish:
How Stocks Are Sold
When you sell shares:
You instruct your broker to sell.
Your broker places a sell order on the market.
Buyers in the market purchase the shares.
The shares move from your CSCS account to the buyer.
The money is credited to your brokerage wallet/account.
You withdraw the cash to your bank account.
What You Need Before Selling
You typically need:
A brokerage account
Your CSCS account
Shares already credited to your CSCS
Bank account linked to the broker
Examples of Nigerian brokerage platforms:
meritrade.com.ng
cardinalstone.com
stanbicibtc.com
investbamboo.com
Step-by-Step Procedure to Sell Shares
1. Log Into Your Brokerage App
Open your brokerage platform.
Go to:
Portfolio
Holdings
Investments
My Stocks
You will see the shares you own.
2. Select the Stock You Want to Sell
Example:
Access Holdings
GTCO
Zenith Bank
MTN Nigeria
Choose the quantity you want to sell.
Example:
You own 5,000 shares
You decide to sell 2,000 shares
3. Place a Sell Order
You usually enter:
Quantity
How many shares you want to sell.
Price
The price per share you want.
You may choose:
Market Order → sell immediately at market price
Limit Order → sell only at your chosen price
Example:
Sell 2,000 Access shares
At ₦25 per share
4. Broker Sends It to NGX
Your broker submits the order to the market.
If buyers are available at your price:
the trade executes.
If no buyer accepts your price:
the order remains pending.
5. Trade Execution
Once matched:
shares leave your CSCS account,
proceeds appear in your brokerage cash balance.
6. Settlement Period
Nigeria currently operates roughly on a T+3/T+2 style settlement cycle depending on the broker/system transition period.
Meaning:
after the sale,
cash may take about 2–3 business days before withdrawal is fully available.
7. Withdraw Your Money
After settlement:
go to “Withdraw”
enter bank details
transfer proceeds to your bank account.
Important Things To Know Before Selling
1. Verify Your Shares Are In CSCS
Some shares may still be:
pending allotment,
dematerialization pending,
or not yet credited.
If shares are not visible in CSCS, they usually cannot be sold yet.
2. Watch Liquidity
Some Nigerian stocks are illiquid.
This means:
there may not be enough buyers,
so selling can take time.
Large-cap banking stocks usually sell faster.
3. Check Charges
Selling shares usually attracts:
broker commission,
NGX fees,
SEC fees,
VAT,
CSCS charges.
The deductions are automatic.
4. Capital Gains Tax
Nigeria currently has evolving tax treatment on capital market gains. Large or institutional transactions may have additional considerations, so monitor current SEC/FIRS rules or ask your broker/accountant for updated treatment.
Example of a Full Sale
Suppose you own:
10,000 Access Holdings Plc shares.
Current market price:
₦24
You sell:
5,000 shares.
Gross value:
₦120,000
After fees:
maybe around ₦118k–₦119k net.
Settlement occurs. You then withdraw to your bank.
If You Want To Sell Physical Share Certificates
That process is different.
You first need:
Dematerialization
CSCS crediting
Registrar/broker processing
Only then can the shares be sold electronically.
Best Practice Before Selling
Before placing a sell order, check:
current market price,
bid/ask volume,
recent price trend,
whether dividends are approaching,
whether the company is undervalued or overvalued.
Selling too early is a common mistake new investors make.
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 beforeRead more
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
How do I sell my shares on the Nigeria stock market (NGX)?
Stocks are sold through the stock exchange using a licensed stockbroker or brokerage app. In Nigeria, shares are traded mainly on the Nigerian Exchange Group (NGX). Here is the practical process from start to finish: How Stocks Are Sold When you sell shares: You instruct your broker to sell. Your brRead more
Stocks are sold through the stock exchange using a licensed stockbroker or brokerage app. In Nigeria, shares are traded mainly on the Nigerian Exchange Group (NGX).
See lessHere is the practical process from start to finish:
How Stocks Are Sold
When you sell shares:
You instruct your broker to sell.
Your broker places a sell order on the market.
Buyers in the market purchase the shares.
The shares move from your CSCS account to the buyer.
The money is credited to your brokerage wallet/account.
You withdraw the cash to your bank account.
What You Need Before Selling
You typically need:
A brokerage account
Your CSCS account
Shares already credited to your CSCS
Bank account linked to the broker
Examples of Nigerian brokerage platforms:
meritrade.com.ng
cardinalstone.com
stanbicibtc.com
investbamboo.com
Step-by-Step Procedure to Sell Shares
1. Log Into Your Brokerage App
Open your brokerage platform.
Go to:
Portfolio
Holdings
Investments
My Stocks
You will see the shares you own.
2. Select the Stock You Want to Sell
Example:
Access Holdings
GTCO
Zenith Bank
MTN Nigeria
Choose the quantity you want to sell.
Example:
You own 5,000 shares
You decide to sell 2,000 shares
3. Place a Sell Order
You usually enter:
Quantity
How many shares you want to sell.
Price
The price per share you want.
You may choose:
Market Order → sell immediately at market price
Limit Order → sell only at your chosen price
Example:
Sell 2,000 Access shares
At ₦25 per share
4. Broker Sends It to NGX
Your broker submits the order to the market.
If buyers are available at your price:
the trade executes.
If no buyer accepts your price:
the order remains pending.
5. Trade Execution
Once matched:
shares leave your CSCS account,
proceeds appear in your brokerage cash balance.
6. Settlement Period
Nigeria currently operates roughly on a T+3/T+2 style settlement cycle depending on the broker/system transition period.
Meaning:
after the sale,
cash may take about 2–3 business days before withdrawal is fully available.
7. Withdraw Your Money
After settlement:
go to “Withdraw”
enter bank details
transfer proceeds to your bank account.
Important Things To Know Before Selling
1. Verify Your Shares Are In CSCS
Some shares may still be:
pending allotment,
dematerialization pending,
or not yet credited.
If shares are not visible in CSCS, they usually cannot be sold yet.
2. Watch Liquidity
Some Nigerian stocks are illiquid.
This means:
there may not be enough buyers,
so selling can take time.
Large-cap banking stocks usually sell faster.
3. Check Charges
Selling shares usually attracts:
broker commission,
NGX fees,
SEC fees,
VAT,
CSCS charges.
The deductions are automatic.
4. Capital Gains Tax
Nigeria currently has evolving tax treatment on capital market gains. Large or institutional transactions may have additional considerations, so monitor current SEC/FIRS rules or ask your broker/accountant for updated treatment.
Example of a Full Sale
Suppose you own:
10,000 Access Holdings Plc shares.
Current market price:
₦24
You sell:
5,000 shares.
Gross value:
₦120,000
After fees:
maybe around ₦118k–₦119k net.
Settlement occurs. You then withdraw to your bank.
If You Want To Sell Physical Share Certificates
That process is different.
You first need:
Dematerialization
CSCS crediting
Registrar/broker processing
Only then can the shares be sold electronically.
Best Practice Before Selling
Before placing a sell order, check:
current market price,
bid/ask volume,
recent price trend,
whether dividends are approaching,
whether the company is undervalued or overvalued.
Selling too early is a common mistake new investors make.
How Can I Sell My First Bank and Skye Bank Shares in Nigeria?
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 beforeRead more
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.
See lessSince 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