After I sign up for InvestNaija stockbroker, few days after, I got an email from coronation registrar Plc, so I was like now that I’m getting email from the stock registrar, do I still need to request for e-dividend mandate form again! So I decided to confirm from my stockbroker which is InvestNaija through an email. And the answer was I don’t have to bcuz my details are with the Registrars already and that I will be getting my dividends directly in my bank account. It sounds good right? But something in me was saying is this response true? And I have my reasons, when I was setting up my InvestNaija app I sent a mail confirming if I can use my existing CHN number on their app but the responder said No. Which is not true. That’s why I’m doubting this new response too. Now as our financial literacy advocate what to do in this case?
Your doubt is valid. In Nigeria’s system: ✓ assumptions can cost you money So you are right to double-check. Now Let’s Clarify the Real Situation What E-Dividend Actually Does E-dividend mandate is what ensures: ✓ your dividends go directly to your bank account ✓ no paper warrants ✓ no unclaimed divRead more
Your doubt is valid.
In Nigeria’s system:
✓ assumptions can cost you money
So you are right to double-check.
Now Let’s Clarify the Real Situation
What E-Dividend Actually Does
E-dividend mandate is what ensures:
✓ your dividends go directly to your bank account
✓ no paper warrants
✓ no unclaimed dividends
It links:
• your bank account
• your BVN
• your shareholder records
So… Do You Still Need It?
Here is the honest answer:
It depends on whether your e-dividend has already been set up successfully.
Scenario 1: Already Mandated Properly
If:
• your BVN is linked
• your bank details are confirmed
• registrar has your mandate
Then:
✓ dividends will come directly to your account
Scenario 2: Not Mandated
If not properly done:
• dividends may not come
• or may become unclaimed dividends
Why Your Case Is Confusing
You received email from:
Coronation Registrars Limited
That means:
✓ your details exist in the registrar’s system
But that does NOT automatically confirm:
✓ e-dividend is fully activated
Let Me Be Honest With You
Many investors assume:
“I registered with a broker, so everything is complete.”
That is not always true.
Because:
✓ brokers and registrars are different systems
What You Should Do NOW (Very Important)
1. Don’t Rely on Assumptions
Even if your broker says “you’re fine”…
✓ verify independently
2. Confirm E-Dividend Status Directly
Contact:
Coronation Registrars Limited
Ask them clearly:
• “Is my e-dividend mandate active?”
• “Is my bank account linked via BVN?”
3. If There Is Any Doubt
Just do the mandate.
Why?
✓ it is FREE
✓ it removes future problems
4. Keep Records
Make sure you have:
• your CHN (Clearing House Number)
• your CSCS details
• confirmation emails
About That CHN Issue You Mentioned
You are correct to question it.
Because:
✓ you CAN use an existing CHN across brokers
So your instinct is working.
Final Truth
In Nigerian investing:
✓ “It should work” is not enough
You must confirm:
✓ “It is properly set up”
Let Me Leave You With This
When it comes to your money:
• don’t assume
• don’t rush
• don’t rely on one source
Always verify.
Because one small missing step today…
can lead to years of unclaimed dividends.
Rose Ejituru
See lessI totally agree with you. I lost both my capital and e dividend from 2016 till today. I even doubt if the woman broker actually invested my money. She came to meet me in school then, after filling the form she brought, she took me to bank to link me with e dividend. That was all. I never got email oRead more
I totally agree with you. I lost both my capital and e dividend from 2016 till today.
I even doubt if the woman broker actually invested my money. She came to meet me in school then, after filling the form she brought, she took me to bank to link me with e dividend. That was all.
I never got email or anything from any company until one day a man called me to inform me that the woman died and she’s his sister, and that after her burial he took some files from her shelve to be able to locate those she’s doing business with.
After meeting with the man in person he began to request for money to go and do search for me. Though he agreed to my request to do the search after which i’d give him some percentage if my capital come out, that was all. Nothing anymore.
So I join in your advice that everyone should be wary for all these small small verifications to avoid regrets and loses.
See lessYour concern is very valid — and honestly, you're thinking like a careful investor, which is exactly what beginners should do. 👏 Let me break this down clearly. Short Answer Do NOT rely on that response alone. You should still confirm your e-dividend mandate status yourself. Because: Some brokers asRead more
Your concern is very valid — and honestly, you’re thinking like a careful investor, which is exactly what beginners should do. 👏
Let me break this down clearly.
Short Answer
Do NOT rely on that response alone.
You should still confirm your e-dividend mandate status yourself.
Because:
Some brokers assume your details are already registered
But many investors still miss dividends because e-dividend was not properly set up
So you’re right to double-check.
Here’s What’s Happening
You received an email from:
Coronation Registrars Plc
This usually means:
Your details were forwarded to the registrar
OR you hold shares they manage
But this does NOT automatically confirm that:
Your e-dividend mandate is active
Your bank account is linked for dividend payment
These are two different things.
Why Your Doubt is Reasonable
You already noticed:
InvestNaija previously told you you can’t use existing CHN
But that turned out not true
That shows:
Some customer support agents may not always give accurate answers
So verifying independently is smart
You’re doing the right thing 👍
What You Should Do Now (Best Practice)
Step 1: Confirm From Registrar Directly
Reply to the email from
Coronation Registrars Plc
Ask them:
Is my e-dividend mandate active?
Is my bank account registered for dividend payment?
Do I need to fill e-dividend mandate form?
This is the most reliable confirmation.
Step 2: You Can Also Check via SEC Portal
You can verify your e-dividend status via:
Securities and Exchange Commission Nigeria e-Dividend Portal
This allows you to:
Register e-dividend
Confirm existing registration
Link bank account
My Professional Advice (Very Important)
Even if your broker says you don’t need it, I still recommend:
Always fill e-dividend mandate once
Why?
It’s one-time
Prevents future issues
Ensures direct bank payment
See less