I have various shares certificate and also shares bought through a broker with CSCS number. I am now trading with Meristem broker with new CSCS number. My question is can all my shares be added to my Meritrade profile and how do I go about it.
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I have various shares certificate and also shares bought through a broker with CSCS number. I am now trading with Meristem broker with new CSCS number. My question is can all my shares be added to my Meritrade profile and how do I go about it.
Yes — you can move ALL your shares (certificates + other CSCS accounts) to your Meritrade account. You just need to follow two different processes depending on the type of shares you have. I'll break it down clearly. ✅ First: The Good News You can have multiple brokers in Nigeria You can also transfRead more
Yes — you can move ALL your shares (certificates + other CSCS accounts) to your Meritrade account.
See lessYou just need to follow two different processes depending on the type of shares you have.
I’ll break it down clearly.
✅ First: The Good News
You can have multiple brokers in Nigeria
You can also transfer everything to one broker (Meristem / Meritrade)
Shares are stored in CSCS, not with the broker — so they can be moved anytime.
Case 1: Physical Share Certificates (Paper Shares)
You must convert them to electronic shares first (called Dematerialization).
How to Add Share Certificates to Meritrade
Take your share certificates to Meristem
Fill Dematerialization Form
Attach:
Share certificates (original)
Valid ID
Passport photo
CSCS number (your Meritrade account)
Meristem sends to registrar
Shares will appear in your Meritrade CSCS account
Dematerialization simply means converting paper share certificates into electronic shares in your CSCS account.
⏱ Processing time: Usually 2–4 weeks
Case 2: Shares With Another Broker (Old CSCS Number)
You need Inter-Member Transfer to move them to Meristem.
Meritrade confirms this is possible. Requirements usually include:
Inter-member transfer form
Current CSCS statement
Request letter
Valid ID
KYC update
Sometimes small transfer fee
Best Approach (Recommended)
Since you have:
Share certificates
Shares in another CSCS
New Meritrade account
👉 Do this:
Visit Meristem office OR email them
Tell them:
“I want to consolidate all my shares into my Meritrade CSCS account”
They will give you:
Dematerialization form (for certificates)
Inter-member transfer form (for other CSCS)
My Personal Advice (Important)
Since you’re now actively trading:
👉 It is best to keep everything in one broker (Meritrade)
Benefits:
Easier dividend tracking
Easier selling
One portfolio view
Less confusion
Quick Example
You have:
10,000 Zenith (certificate)
5,000 GTCO (old broker)
8,000 Dangote Cement (Meritrade)
After consolidation:
All will show in one Meritrade account