Can a father transfer part of Shares he is holding to his child or someone else?
For instance if he has 1000 units of of Company A shares, can he transfer like 200 units to his child CSCS account or someone else
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Can a father transfer part of Shares he is holding to his child or someone else?
For instance if he has 1000 units of of Company A shares, can he transfer like 200 units to his child CSCS account or someone else
In a lively marketplace, just like Oshodi Market bustling with different transactions, we have the financial market where different kinds of 'stocks' are bought and sold. Now, imagine Papa Emeka, who has some Company A shares, wanting to give a little portion to his child, Ngozi.Yes, Papa Emeka canRead more
In a lively marketplace, just like Oshodi Market bustling with different transactions, we have the financial market where different kinds of ‘stocks’ are bought and sold. Now, imagine Papa Emeka, who has some Company A shares, wanting to give a little portion to his child, Ngozi.
Yes, Papa Emeka can transfer a part of the shares he owns to his child’s CSCS account. So if he has 1000 units of Company A shares, he can gift like 200 units to his child’s account. It’s like sharing a piece of the pie with his child to encourage financial literacy from a young age.
When Papa Emeka transfers these shares to Ngozi’s account, she becomes a part-owner of that company too! It’s a sweet way for parents to teach their children about investing and ownership. Just like Ngozi can watch her tomato plants grow in the garden, she can check her shares from time to time and see how they grow too.
So, in simple terms, it’s like Papa Emeka giving a small part of his Company A shares to Ngozi as a gift, making her a proud part-owner of that company – teaching her the value of investing and ownership from a young age. Mama Ngozi in the village will surely smile and say, “I sabi dis one well well!” ☺️✨
See lessYes. In Nigeria, a father can transfer part of his shares to his child or another person, provided the transfer is processed properly through the relevant stockbroker/CSCS procedures. For your example, if the father owns 1,000 units of Company A, it is possible in principle to transfer 200 units toRead more
Yes. In Nigeria, a father can transfer part of his shares to his child or another person, provided the transfer is processed properly through the relevant stockbroker/CSCS procedures.
For your example, if the father owns 1,000 units of Company A, it is possible in principle to transfer 200 units to the child’s CSCS account while retaining the other 800 units.
How it generally works
The father would instruct his stockbroker to process a transfer of the specified number of shares to the recipient’s CSCS account. CSCS provides a stock-transfer process, and its current investor-services information says investors should engage their stockbroker and submit the required documentation for transfers.
It is helping the child have a part of a company.
See lessYes, it is generally possible to transfer part of a shareholding to another person, including a child, but it is not simply a matter of moving the shares yourself from one CSCS account to another. For example, if a father holds 1,000 units of Company A, he may be able to transfer 200 units to his chRead more
Yes, it is generally possible to transfer part of a shareholding to another person, including a child, but it is not simply a matter of moving the shares yourself from one CSCS account to another.
For example, if a father holds 1,000 units of Company A, he may be able to transfer 200 units to his child’s CSCS account, subject to the applicable rules and the requirements of the stockbroker/CSCS.
The usual process would involve:
• The child’s CSCS account must be properly opened and eligible to receive the shares.
• The father gives the transfer instruction through his stockbroker.
• The receiving child’s CSCS details must be correctly provided.
• The broker/CSCS will process the transfer and may require the appropriate transfer forms and supporting identification/documents.
• The applicable fees, taxes or other charges should be confirmed before the transfer.
So the important point is: partial transfer of shares can be possible; you don’t necessarily have to transfer the entire 1,000 units.
Before initiating it, I would ask the stockbroker specifically for their “off-market/transfer of shares” requirements and confirm whether any additional documentation is required when transferring to a child.
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