Normally, dematerialization of paper share certificates into a Central Securities Clearing System (CSCS) account should take between 2 weeks to 8 weeks — not several months.
Since you submitted your request to InvestNaija since October last year, and it’s now many months later, this is not normal and something is likely delaying the process.
Normal Timeline (Nigeria)
Typical dematerialization process:
Submit dematerialization form — Day 1
Stockbroker verifies documents — 3–7 days
Sent to Registrar — 1–3 weeks
Registrar processes — 1–4 weeks
Shares credited to CSCS — Immediately after approval
👉 Total normal time: 2–8 weeks
Why Yours May Be Delayed
Common reasons include:
1. Registrar Delay
Some registrars are slow, especially if:
Certificate is very old
Company has merged or changed name
Records need verification
2. Name Mismatch
If:
Name on certificate ≠ CSCS name
Signature mismatch
Missing middle name
This can cause long delays.
3. Missing Documents
They may need:
Valid ID
Passport photograph
Signature verification
Bank details
4. Stockbroker Did Not Submit
This happens sometimes (unfortunately).
What You Should Do Now (Important)
Since it’s been since October, take these steps:
Step 1 — Contact InvestNaija Immediately
Ask them:
Has it been submitted to registrar?
Which registrar is handling it?
What is the status?
Step 2 — Request These Details
Ask for:
Registrar name
Submission date
Reference number
Step 3 — Escalate If Necessary
If no response:
Email them
Call them
Send WhatsApp (if available)
Red Flag 🚩
Anything beyond 3 months is already too long.
Since yours is over 6 months, it must be followed up immediately.
My Advice (Based on Experience)
Be polite but firm. Say:
“I submitted since October”
“Please provide status”
“Please confirm registrar submission”
This usually speeds things up.