How do I dematerialize my shares certificate and how much does it cost.
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How do I dematerialize my shares certificate and how much does it cost.
Dematerialization is the process of converting your physical share certificates into electronic form and crediting them into your CSCS account. Once dematerialized, you no longer need to keep paper certificates, and you can easily receive dividends, bonuses, and sell the shares through a stockbrokerRead more
Dematerialization is the process of converting your physical share certificates into electronic form and crediting them into your CSCS account. Once dematerialized, you no longer need to keep paper certificates, and you can easily receive dividends, bonuses, and sell the shares through a stockbroker.
See lessHow to Dematerialize Share Certificates in Nigeria
Open a CSCS account
If you don’t already have one, open a CSCS account through a registered stockbroker or investment platform that provides stockbroking services.
Gather your documents
Original share certificate(s)
Valid means of identification
Passport photograph (if required)
Completed Dematerialization Form from your stockbroker
Submit the documents
Give the original certificates and completed forms to your stockbroker.
The broker forwards them to the company’s registrar for verification.
Verification and Credit
The registrar verifies the certificates.
Once approved, the shares are credited electronically to your CSCS account.
Confirmation
You receive confirmation from your broker when the shares appear in your CSCS account.
How Much Does It Cost?
For most investors, dematerialization itself is usually free or attracts minimal administrative charges, depending on the broker and registrar involved. However:
Some stockbrokers may charge processing fees.
You may incur costs if there are issues such as name discrepancies, signature updates, estate-related transfers, or lost certificates.
It is best to confirm the current charges with your stockbroker before submission.
If the Certificates Are Old
If the certificates are from many years ago:
Check whether the company still exists or has undergone mergers, acquisitions, or restructuring.
Verify whether bonus shares were issued over the years.
Update your e-dividend registration simultaneously so future dividends go directly to your bank account.