I have understood what stocks is all about because you own the shares directly while in equity funds you own many shares through a manager and I have also known the apps needed like for stocks meritrade and equity funds is cowrywise so what’s the next step
Good—now you’re at the real starting point. Understanding is one thing; getting your CHN (Clearing House Number) is what actually puts you inside the Nigerian stock market. Let’s go step-by-step, no gaps. 🧾 What CHN really is Your CHN is your unique investor ID issued by Central Securities ClearingRead more
Good—now you’re at the real starting point. Understanding is one thing; getting your CHN (Clearing House Number) is what actually puts you inside the Nigerian stock market.
See lessLet’s go step-by-step, no gaps.
🧾 What CHN really is
Your CHN is your unique investor ID issued by
Central Securities Clearing System Plc
It’s what:
Holds your shares electronically
Tracks your ownership
Links your dividends and transactions
👉 Without CHN, you cannot truly own stocks on the
Nigerian Exchange Limited
✅ How to get your CHN (practical process)
Option 1: Through a stockbroker (BEST & most common)
Use a broker like:
Meristem Securities Limited (Meritrade)
What happens:
When you register:
They automatically open a CSCS account for you
Your CHN is generated
👉 You don’t apply for CHN separately—it comes with your brokerage account.
📋 Step-by-step (what you should do now)
1. Open your stock account (Meritrade)
Download/open Meritrade
Click Sign Up / Open Account
2. Submit required documents
You’ll provide:
BVN
Valid ID (NIN, voter’s card, etc.)
Passport photo
Bank details
Signature
3. Account verification
Broker reviews your details
This can take 1–5 working days
4. CHN is created automatically
After approval:
You’ll receive:
Your CHN number
CSCS account details
👉 Sometimes sent via email or visible in your dashboard
5. Link your bank (very important)
This connects to:
Dividend payments
Direct Cash Settlement (DCS)
6. Fund your account
Transfer money into your trading wallet
7. Start buying stocks
Now you can:
Place buy orders
Own shares directly
⚠️ Important things many beginners miss
1. CHN is ONE per investor
You should not open multiple CHNs unnecessarily
If you change broker, your CHN can be transferred
2. CHN ≠ trading account
CHN = where your shares are stored
Broker account = where you trade
3. Dividends depend on your CHN records
Make sure:
Your name matches BVN
Bank details are correct
🔥 What you should do immediately (clear action plan)
Since you already:
Understand stocks
Know Meritrade
👉 Do this today:
Open Meritrade account
Complete KYC fully
Wait for CHN
Fund with small amount (₦10k–₦50k)
Buy your first stock
💡 Pro tip (based on your journey)
Don’t rush into many stocks immediately.
Start with:
1–2 solid companies
Observe how:
Price moves
Dividends work
Settlement works
🧠 Bottom line
You don’t “apply” for CHN manually
✔️ Open brokerage account → CHN is created automatically
✔️ That’s your gateway into real stock investing in Nigeria