Pls , what is the necessary action if proceed yet to be credited after 2 weeks or more when the order has been executed.
Promiseed soon and soon after contacted by the share holder pls
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Pls , what is the necessary action if proceed yet to be credited after 2 weeks or more when the order has been executed.
Promiseed soon and soon after contacted by the share holder pls
If your stock sale proceeds are not credited after 2 weeks in Nigeria, this is not normal and you should take immediate action. Normally, once your sell order is executed, payment should arrive within: T+2 to T+3 working days (2–3 business days) This is the settlement cycle used by the Nigerian ExchRead more
If your stock sale proceeds are not credited after 2 weeks in Nigeria, this is not normal and you should take immediate action. Normally, once your sell order is executed, payment should arrive within:
See lessT+2 to T+3 working days (2–3 business days)
This is the settlement cycle used by the Nigerian Exchange Group and handled through the Central Securities Clearing System.
What Could Cause the Delay?
Common reasons include:
Bank account mismatch
Registrar delays
Broker processing delay
Unlinked CSCS account
Incorrect settlement instructions
Compliance / verification issue
What You Should Do (Step-by-Step)
Step 1 — Confirm Order Was Actually Executed
Check:
Trade history
Contract note
Execution price
If you received contract note, then sale was executed.
Step 2 — Contact Your Broker (First Action)
Contact your stockbroker immediately:
Call them
Email them
WhatsApp (if available)
Ask clearly:
“My sell order was executed over 2 weeks ago but proceeds not credited. Please confirm settlement status.”
Your broker is responsible for settlement.
Step 3 — Request Contract Note (Important)
Ask for:
Contract note
Settlement date
Payment status
This gives you proof.
Step 4 — Check Your Bank Details
Ensure:
Account name matches
Account number correct
Bank still active
Many delays happen because of incorrect bank details.
Step 5 — Contact CSCS (If Broker Delays)
If your broker keeps saying “soon” (which is a red flag after 2 weeks), contact:
Central Securities Clearing System
Provide:
Your CSCS number
Stock sold
Date of sale
CSCS can confirm whether funds were released.
Step 6 — Escalate to Regulator (If Still No Payment)
If nothing happens after 3 weeks, escalate to:
Securities and Exchange Commission Nigeria
This is the regulator. Brokers take complaints seriously when SEC is involved.
Normal vs Problem Timeline
Normal:
Day 1 → Sell order executed
Day 2–3 → Settlement
Day 3–5 → Payment credited
Warning:
1 week → Follow up
2 weeks → Escalate
3 weeks → Report
Is This Situation Serious?
Yes ⚠️
Two weeks delay is not standard in Nigerian stock market.
But don’t panic — it’s usually resolved once you escalate properly.