1. I purchased some shares on the NGX platform. I am unable to trade the shares as I would on a broker app. How can I transfer my shares from NGX to a broker of my choice for easy management?
2. I also purchased Fidelity Bank shares from the banking hall in 2024. Up till now I do not have any access or information about the allocation of the shares? How can I trace my Fidelity Bank shares and possibly access them on a broker?
2. Fidelity Bank shares purchased in 2024 but cannot be found The eventual allotment would have been credited to your CSCS accounts. All allotment announcement always states that investors without CSCS accounts would have their shares credited using a Registrar Identification Number (RIN). What ypuRead more
2. Fidelity Bank shares purchased in 2024 but cannot be found
The eventual allotment would have been credited to your CSCS accounts. All allotment announcement always states that investors without CSCS accounts would have their shares credited using a Registrar Identification Number (RIN).
What ypu need to know is that Fidelity Bank identifies First Registrars & Investor Services Limited as the registrar to contact for shareholding enquiries, including transfer-of-share matters.
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Contact Fidelity Bank’s registrar (First Registrars) → provide your identification/application details → ask them to confirm your allotment and CSCS → once the shares are located, arrange for them to be linked/transferred to the appropriate broker account.
Yes, you can manage your shares through a stockbroker, but the first thing is to understand that the NGX itself is the market/exchange; you normally don't trade directly on the NGX. Your shares are held electronically through the CSCS and your stockbroker provides the platform for buying and sellingRead more
Yes, you can manage your shares through a stockbroker, but the first thing is to understand that the NGX itself is the market/exchange; you normally don’t trade directly on the NGX. Your shares are held electronically through the CSCS and your stockbroker provides the platform for buying and selling.
For your first question, if you already purchased the shares but don’t have access to them through a broker app, I would:
1. Find your CSCS Clearing House Number (CHN) or CSCS account details.
2. Choose a SEC-licensed stockbroker that offers online trading.
3. Ask the broker to help you link/open the appropriate trading relationship with your existing CSCS account.
4. If the shares are currently with another broker, you can request a transfer of your holdings to the new broker. Don’t sell the shares simply because you want to change brokers.
For example, if you have ₦500,000 worth of shares sitting in your CSCS account but you want to use Broker B’s app, you don’t need to sell the shares and buy them again. You can ask Broker B about the process for transferring/linking your existing holdings.
For the Fidelity Bank shares you bought in 2024, I would first trace the original transaction rather than assuming the shares are lost.
Keep any evidence you have from the bank—receipt, payment evidence, application form, account statement or transaction reference. Then contact Fidelity Bank and the registrar/broker that handled the share purchase and ask them to confirm:
– Whether your application was successfully allotted.
– The number of shares allotted to you.
– The CSCS account/CHN where the shares were credited.
– Whether your name/details have any KYC issue.
– Whether there are any outstanding dividends.
If the shares were properly allotted and credited to your CSCS account, a stockbroker should be able to help you access/manage the holdings once your CSCS details are correctly linked.
So, I would not buy the Fidelity shares again until you have traced the original 2024 purchase. You may already own the shares but simply don’t have access to the account where they were credited.
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