My friend plans to come to America and sell some of his stock purchased at the NSE a few months ago.  He was told he needs a Nigerian Stock Exchange License to trade or sell in the US.  He says this is a new requirement because of the change in the Central Bank Govenor.  I am hoping someone familiar with this can verify the information given him.  He's told he need $850 for the license, and he is asking me for help with that.  I think it sounds odd.  He was charged $650 for 2 stamps of authentification - supposedly one needed for Nigeria, the other needed in the US.  So why the license too?

Also, does he need this "license" to sell or trade in Nigeria?  Can that be true?  Isn't that the roll of the broker?  Why would he need this?  Please, if you have an insight into this I would so appreciate the advice.  Clearly, I don't think he's being given good advice, but I'm not sure.

Thank you

I call bullshit. Too bad he already took your $650.

Im wondering that too, are you in the stock business, or just an investor?

Thanks.