Dear Fokona Team,
I need help. On 23rd of March, 2026 I sold off my 1425 units TranscorpHotel shares at Afrinvest platform. The sell was successfully executed but my bank account wasn’t successfully credited. I have contacted them via call and was redirected to send them an email via connect@afrinvest.com. which I did. I response was given to me after 72 hours because of the long holiday. In the response by Angela via mail, she said my account was credited upon the execution of the sell on 26th. Of which she shared a document detailing the transaction details. I got back to her there was nothing like that. That my account wasn’t credited, I went to my bank print my Bank statement covering from 1st to 31st of March, 2026. The statement clearly show there was no inflow of such payment into my account. I wrote them back, attaching the bank statement. Till now no feedback, I have sent reminder emails no response. Please, Fokona Team, I need your help in resolving this issue. 261k+ is a large sum in this current economy.
This is a trade settlement dispute / non-receipt of sale proceeds, and you’re handling it correctly so far by escalating and providing bank evidence. Now the focus should shift from “follow-up emails” to formal escalation + reconciliation of settlement trail. I’ll break this into what likely happeneRead more
This is a trade settlement dispute / non-receipt of sale proceeds, and you’re handling it correctly so far by escalating and providing bank evidence. Now the focus should shift from “follow-up emails” to formal escalation + reconciliation of settlement trail.
See lessI’ll break this into what likely happened, what to demand, and exactly how to escalate.
1. What should normally happen in your case
For a Nigerian equities sale (e.g., Transcorp Hotels via Afrinvest):
You place sell order → trade executes (T day = 23 March)
Settlement cycle runs (typically T+2 business days)
Funds move through CSCS clearing system
Broker receives cash → credits your settlement bank account
So if you sold on 23 March 2026, you should normally see funds around:
25–26 March 2026 (T+2)
Since their staff claims “credited on 26th,” they are saying:
“Settlement was completed and paid out to your registered bank account”
But your bank statement proves:
❌ No inflow occurred
That creates only 3 realistic possibilities:
Wrong bank account on record (most common)
Payment failed and was reversed/held in broker suspense account
Internal posting error (system credited ledger but not remitted)
2. What you now need (critical documents)
Do NOT continue generic emailing. Demand audit-level proof.
Ask Afrinvest for:
A. Payment trail evidence
Settlement reference number (CSCS settlement ID)
Bank transfer reference (UTR / narration / payment ID)
Date and exact time of transfer
B. Beneficiary confirmation
The bank account number and bank name they remitted to
C. Internal ledger proof
Client ledger statement showing:
sale proceeds
date credited
withdrawal/payment posting
If they cannot provide these, the claim “we credited you” is weak.
3. Your strongest immediate escalation email (send this)
Send one firm, structured email (not multiple follow-ups):
Subject: FORMAL DISPUTE – NON-RECEIPT OF SALE PROCEEDS (TRANS CORP HOTELS – 1,425 UNITS)
Dear Afrinvest Support / Compliance Team,
I am writing to formally dispute the non-receipt of proceeds from the sale of 1,425 units of Transcorp Hotels executed on 23rd March 2026 via my Afrinvest trading account.
Your representative confirmed that the proceeds were credited to my bank account on 26th March 2026. However, after conducting a full review of my bank statement covering 1st–31st March 2026, there is no inflow or credit corresponding to this transaction or any related amount.
This confirms a clear discrepancy between your system records and my receiving bank account.
Kindly urgently provide the following:
Settlement reference (CSCS transaction ID)
Bank transfer evidence including:
transaction reference number
destination account number and bank name
Internal client ledger showing posting of proceeds
Proof of successful remittance from your settlement bank
Please treat this as a formal dispute requiring reconciliation. If this issue is not resolved within 5 business days, I will escalate the matter to:
Securities and Exchange Commission (SEC Nigeria)
CSCS (Central Securities Clearing System)
Investment and Securities Tribunal (if required)
Given the value involved (~₦261,000+), I expect urgent attention and resolution.
Regards,
[Your Full Name]
[Trading Account ID]
4. If they continue delaying (next escalation path)
If no proper response in 3–5 working days:
Step 1: SEC Nigeria complaint
File complaint with:
Securities and Exchange Commission (SEC Nigeria)
They regulate Afrinvest as a capital market operator.
Step 2: CSCS complaint
CSCS can confirm:
whether settlement actually occurred
where funds were routed
Step 3: Internal Compliance escalation
Ask specifically for:
“Head of Compliance or Operations Manager”
Not customer support anymore.
5. What I suspect (based on your case pattern)
Given:
Trade executed successfully
Broker claims payment made
Bank statement shows zero credit
No reference number provided yet
Most likely root cause is:
👉 wrong settlement bank details OR failed transfer parked internally
This is fixable—but only when they provide transaction trace.
6. Important advice (don’t skip this)
Stop repeating the same email thread without escalation language
Always demand reference numbers, not explanations
Keep your bank statement as primary evidence (you already did correctly)
Do not accept “it was credited” without trace ID