What are the necessary documents needed to open a corporate stock broking account?
In addition to the above documents required for the opening of an individual account, the following are needed for a corporate account:
- Certificate of Incorporation
- CAC Form 2
- CAC Form 7
- Sealed Board Resolution authorizing Zenith Securities to open an account.
- Sealed Board Resolution stating signatorys’ names and specimen signature to account.
What are the charges for doing trades through Quantum Zenith Securities Ltd (QZSIL) on the Stock Exchange.
- Our total charge for buying is 1.635% and selling is 1.935% of the value of the transaction.
- This ranks as one of the lowest in the industry.
What do I need to effect a transfer from my present Stock Broking firm to QZSIL?
You could transfer your stockbroking account from another firm to QZSIL by:
- Filling out an inter-member transfer form (available on our web site). 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 communicating your intention to transfer your shares from your present Stock Broker to QZSIL;
- All documents in 1-3 above should then be forwarded to us for processing at CSCS.
Such transfers attract a charge of N1,000:00 which should be lodged into our current account 1011931103 – Quantum Zenith Securities & Investments Ltd Revenue Account. The deposit slip evidencing lodgement should be attached to the documents in 1-3.
What is the time frame to verify deposited certificates?
There is no fixed minimum or maximum number of days to conclude certificate verification. Share certificate verification has a tripartite interphase (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 transactions 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 QZSIL however, strive to ensure our clients’ instructions are promptly executed within the shortest time possible.
Why can clients no longer view their cash statement from inception?
The web site displays only trades done in the last four weeks. In order that you may have the complete statement, please send a request to email@example.com stipulating the time frame you desire.
How do I access CSCS on-line?
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.cscsnigeriaplc.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.
- Forward the account opening form to our office at 12th Floor, Plot 2, Ajose Adeogun Street, Victoria Island, Lagos, through any of the Zenith Bank branches closest to you or in person.
- Full Name (Shareholders Name)
- Clearing House Number/CSCS NO. (eg. C123567AB)
- 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
Is it possible to have two stock accounts with different Stock Broking firms and retain one clearing house number for both accounts?
Yes, it is possible.
What is required to get a reference letter to an embassy issued on my behalf?
Send an e-mail (using your registered e-mail address with us) or a formal letter requesting for a reference letter stating the particular embassy (and it’s address) you want the letter addressed to.