What do I need to open a stockbroking Account?

• Fill our account opening form (the form can be downloaded from the download section of this website );
• Attach a copy of your
• International passport or Driver’s license
• Current utility bill
• 1 passport photograph attached to your account opening form;
• Forward the account opening form to our office at 8A, Ojora Close, off Idowu Martins, Victoria Island through any of our branches close to you or in person.

What if I want to open a corporate

In addition to the above listed documents, the following are needed for a corporate account:

• Certificate of Incorporation
• Memat
• CAC Form 2
• CAC Form 7
• Sealed Board Resolution authorising Kedari Securities Ltd to open an account
• Sealed Board Resolution stating signatories’ names and specimen signature to account

Are there any charges for doing trades through Kedari Securities Ltd (KSL)?

Our total charge for buying is 1.35% and selling is 1.35% of the value of the transaction, a comprehensive list of transaction charges is available on our download page

What do I need to effect a transfer from my present stockbroker to KSL?

You could transfer your stockbroking account from another firm to KSL by:

• Filling out an inter-member transfer form (the form can be downloaded from the download section of this website)
• Your present Stock Broker signs off and places their official stamp on it;
• They also should print out your most resent CSCS statement and attach to the completed form in “1”above;
• Attach a letter written by you addressed to the Nigerian Stock Exchange and CSCS communicating your intention to transfer your shares from your present stock broker to KSL; (the form can be downloaded from the download section of this website)
• All documents in 1-3 above should then be forwarded to us for processing @ CSCS.

How long does it take to verify deposited certificates?

There is no fixed minimum or maximum number of days to conclude certificate verification. Share certificate verification has a tripartite inter-phase (Stock Broking firm, registrars and CSCS), hence difficult to stipulate an exact time frame for certificate verification. Our experience shows it usually takes about 2 weeks on the average, subject to accuracy of documentation.

Why are certain transaction not executed on the exact date it was jobbed?

Execution of transactions is dependent on the Bid-Offer situation in the market at any particular time. We at KSL however, strive to ensure our clients’ instructions are promptly executed within the shortest time possible.

How can I obtain my CSCS statement?

In order to get a copy of your CSCS statement, please send an e-mail to This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Can I assess my CSCS statement online?

You can access your stock position in CSCS through the internet via a direct subscription to CSCS Ltd website. The following are the steps to be undertaken.

• log-on to www.cscsnigerialtd.com. Locate the user information on the top right corner of the site and click on “register”.
• Fill and submit the form online
• Make payment at any of the designated bank accounts indicating the following on the bank payment slip.
• Full Name (Shareholders Name)
• Clearing House Number/CSCS NO. (eg. C765328JB)
• Submit the completed stock broking firm’s Identification Form duly signed and stamped by Accredited representatives of the stock broking firm to CSCS head office

Can I have two stockbroking accounts with different Stockbroking firms and retain one clearing house number for both accounts?

Yes it is possible.

If I sell my stocks today, when will I be able to collect my money?

No. your money will be ready 3 days after trading. Because Settlement transaction will be settled on Day T+3.

Can I use my Shares in CSCS Depository as Collateral for Loan Facility?

Yes. You can follow the following steps:

The lender should demand from the borrower, a current statement of stock position issued to him/her/it by CSCS Ltd

The lender can confirm from CSCS, the statement of shareholding issued to a shareholder/prospective borrower by CSCS (status report) on payment of a fee of =N=100.00.  The Lender must obtain from the borrower/shareholder a letter of authority to the effect that the borrower/shareholder has mandated the lender to collect the stock position on his/her/its behalf.

Can I collect cash for my transactions?

No. We pay via cheque issued in the account holder’s name. Third party payment is not allowed

My late parent has some stocks before he/she died, what can I do about them?

You will need to process the letter of administration and provide the following documents:

• Death Certificate
• Letter of the administrators
• Paper Publication or Gazette
• Letter of introduction from the administrators
• Bankers Confirmation
• List of stocks

end faq