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Gaza
Asked: 2026-03-28T11:15:55+00:00 In:

What Causes Buy Orders to Fail When Purchasing Nigerian Stocks Like PRESCO on Bamboo?

I try buying PRESCO with Bamboo broker in two different occasions but the buying order was declined, don’t know what is wrong

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2 Answers

  2. Edith Ejenavwo
    Starter

    As an investor, it is imperative to check the liquidity of stocks before buying. High liquidity stocks can be bought and sold quickly and fairly, while low liquidity stocks cannot be bought and sold quickly and fairly. If your buying order was declined, it could be due to the low liquidity status ofRead more

    As an investor, it is imperative to check the liquidity of stocks before buying.

    High liquidity stocks can be bought and sold quickly and fairly, while low liquidity stocks cannot be bought and sold quickly and fairly.

    If your buying order was declined, it could be due to the low liquidity status of the shares.

    In order to buy successfully, you would have to reduce your buying price because no seller is available to sell at the price you are willing to buy.

    Check the “order book” of the company, you will see the prices buyers are willing to buy (bid), and you will also see the prices sellers are willing to sell (ask).

     

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  3. Ochoyoda
    Community Builder

    If your buy order for Presco Plc keeps getting declined on Bamboo, it’s usually caused by one of these very common reasons: Most Likely Reasons Your PRESCO Order Was Declined 1. Low Liquidity (Very Common with PRESCO) PRESCO is not heavily traded every day. That means: Sometimes no seller is availabRead more

    If your buy order for Presco Plc keeps getting declined on Bamboo, it’s usually caused by one of these very common reasons:

    Most Likely Reasons Your PRESCO Order Was Declined

    1. Low Liquidity (Very Common with PRESCO)

    PRESCO is not heavily traded every day. That means:

    Sometimes no seller is available

    Your order cannot be matched

    Bamboo declines the order

    This is very common with Nigerian stocks.

    Example:

    You want to buy 10 shares

    But nobody is selling at that time

    ➡️ Order gets declined

    2. Price Movement (Limit Order Issue)

    If you placed:

    A limit order

    And price moved quickly

    Your order may be declined because:

    Market price changed

    Your price no longer matches sellers

    3. Market Closed

    Nigerian stock market trading hours:

    Monday — Friday

    10:00 AM — 2:30 PM (Nigerian time)

    If you place order:

    Before market opens

    After market closes

    It may fail or remain pending.

    4. Minimum Order Size

    Some Nigerian stocks require:

    Minimum number of shares

    Round lots (like 10 shares, 50 shares, etc.)

    If you try to buy too small: ➡️ Order may be declined

    5. Insufficient Buying Power

    Even if you have money, you must consider:

    Brokerage fees

    VAT

    Stamp duty

    Example:

    You have ₦50,000

    PRESCO cost + fees = ₦50,300

    ➡️ Order declined

    What I Recommend You Do

    Try this step-by-step:

    Try buying during market hours (10am–1pm)

    Use limit order slightly higher than current price

    Try smaller quantity (like 5–10 shares)

    Try again on another day

    My Personal Observation About PRESCO

    PRESCO is:

    A good long-term dividend stock

    But not very liquid

    Orders sometimes take time to fill

    So your experience is normal, especially as a beginner 👍

    Since you’re already:

    Using Bamboo

    Buying Nigerian stocks

    Asking about dividends

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