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Babs_O (m)
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Please can someone help me out. What is the correct CSCS number to use on Public Offer forms. I have been confused by brokers. Most say it's the purely numeric one and some say it's the alpha numeric one.
Also will either still work. Has anyone got experience on this.
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IykeD (m)
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I understand your confusion very well mas many been in the past even the Brokers get confused about it too.
You one of these nos is called CSCS Account No which is the numeric one and the other is called just CSCS No which is the alphanumeric, which has a combination of your names in some oder. The latter, CSCS No(alphanumeric) is what you have to fill in public offers if you desire shares alloted to you to be credited to your account.
Further explanation about this is that CSCS Account No(numeric) is the one used internally on the floor for trading while your CSCS No(alphanumeric) is the one registrars use for yours shares.Hope this Helps.Cheers!
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Babs_O (m)
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Iyke thanks. I have used the two on different occasions. I will watch out to see the one that will end up being credited directly to my CSCS account.
Has anyone got a public offer credited to CSCS directly before. Please share your experience. Which CSCS number did you use.
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Crownvilla (m)
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@ Iyke D Thanks a lot, I've pondered over this and the numerous differing answers I've received abotu this question You are the first person to expalin this to me in a way that I understand. Well done, it is appreciated.  |
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IykeD (m)
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@ CrownVilla, You are highly welcome,
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madeonline
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CHN Number is the one to use because it is for depository purpose unlike the account number that is for Automated Teller System/finaicial transactions.
The only challenge is that issuing houses keep confusing public investors by requesting for cscs account numbers on their forms rather than CHN numbers.
It is better to stick to what is right and not to make some experimental assumptions: Use CHN numbers always on IPO/PO forms.
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walcolm (m)
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@madeonline
you are throwing in more confusion.
IykeD said CSCS no- the alphanumeric, you are saying CHN no - All numeric. which one should we run with?
i have been using alphanumeric on all my PO forms since 2006 but i have had to get my certs by mail. don't forget the issue of direct credit to CSCS is new, so people need to know which way to go to take advantage of it when it is fully implemented
please guys, somebody should clarify is it CSCS (Alphanumeric) or CHN NO (all digits)
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IykeD (m)
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@walcom, madeonline is saying the same thing but with different terms.Clearing house numbers are same as CSCS no and that's the alphanumeric one, so don't get confused about it.
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dejacrue
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alphanumeric no is d clearing house known 2 all operators 2 transact on ur behalf while d numeric one is that generated through ur broker from CSCS when u open a stocktrading wit ur broker.for because. 2 credit ur CSCS acc;for d fact u'll include d name through whom u r subscribing 4 d offer,u'll 've 2 use d CSCS numeric no.assuming u r changin ur stockbroker or transferring ur stocks from one broker 2 another,then u'll need 2 include ur clearing house no. which is d alphanumeric no.find out more from ur broker.
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Babs_O (m)
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dejacrue, I can see you advice the numeric number since the name of the broker is included in the offer form. I and some colleagues have consulted 4 different brokers namely (IBTC, NSL, CSL(FCMB), Zenith). Only 1 out of the 4 adviced us to use the alphanumeric number. Thus the confusion is still there. I wonder how the process of allotment works for crediting to CSCS.
I also don't think there has been any direct crediting to subscribers CSCS account to any stockbroker since the avalanche of offers. When it starts we'll know or be adviced on which one is the better to use as it creates less work for the registrars in alloting the shares to subcribers via their broker.
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Nicklee (m)
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You should use the numeric number and not the CHN in PO/IPO forms. In simple terms, Come to think of it, the CHN remains the same even if you have multiple brokers, but the CSCS account number varies from broker to broker. However, all the CSCS account numbers ( numeric) point to the same CHN. the converse is not the case - ie your CHN does not point to the CSCS account number. in other words, if you use the CHN ( alphanumeric), how would you trade the stocks when it get's credited into 'your account'. You need a broker platform to trade, hence you need the numeric number to TRADE. By the way the numeric CSCS number is also unique to you, and any stock credited to it is automatically associated with the CHN, So, for PO and IPO, use the numeric CSCS number
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walcolm (m)
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guys,
this is still not clear.
is there any way one can contact CSCS directly to find out what info they have on you. i have registered with 4 brokers over time and i know they have different alphanumeric numbers against my name
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Babs_O (m)
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walcolm that will happen if you address changes or their is a slight change in your name or you use a nominee service. Where my address were same, with two different brokers I was given the same alphanumeric number.
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madeonline
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walcom. Thanks for your observation.
I am also learning here. I have always advised CHN/Alpahanumeric. I can see so many proponents of numeric number here with purported support from ZSL, CSL, etc. I would do more research on this and get back through this thread and through this forum.
However, a food for thought. Do kindly pick a copy of any e-bonus advice from any registrar and note that a specific mention is made to CHN Number. I want to believe e-Bonus and e-Ipo are likely to be excuted through similar ICT platform and procedure only that the former is operational while the latter is yet to be effected on NSE.
However, I would review my stand after a comprehensive and broad based research.
Regards
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kaypinchi (m)
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Na wah o! This is algebra all over again.  A guru (in stocks trading/services) should please clarify this issue asap by giving us examples like our maths teachers did. What happens when you change your broker? What happens when you have more than a broker? Should brokers advise the issuing houses to provide 2 slots for the 2 numbers in case the 2 are required? This will indeed help us not to make more mistakes.  Thanks. |
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IykeD (m)
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@ madeonline, you are very correct.Now, have you ever wondered why the CSCS no is unique, which has a combination of your names.Now to those who say CSCS account no is to be used, have you also wondered why when you use different brokers, you have different CSCS acount no but still the same CSCS no.This is because CSCS account no is unique to each stockbroker alone, as that is what they use on your bahalf to trade on the floor, CSCS no is used by all the Registrars no matter the no of stockbrokers you are signed to.
This is why on all PO forms, they write: Fill in your CSCS no and immediately after that, they ask for "name of Stockbroker".
If it was the CSCS acount no they require which is unique to each Stockbroker you use, they wouldn't bother asking for name of Stockbroker.
Please let's not confuse issues here.
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NBA (m)
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http://www.nse-cscstradealert.com/FAQ.htmFAQs on NSE-CSCS Trade Alert What is the NSE/CSCS Trade Alert? The NSE/CSCS Trade Alert is an Investor Protection Scheme from the Central Securities Clearing System of the Nigerian Stock Exchange which notifies you every time your stocks are traded on the floor of the Exchange.The share holder automatically gets an SMS message on his or her GSM phone notifying him or her of the transaction before it is completed. This means you can abort the transaction with a simple call if you did not authorise it. What is the Clearing House number?It is a unique code that consists of numbers and alphabets generated by the CSCS to uniquely identify a client How do I differentiate between my Clearing House number and my CSCS account number?The Clearing House number always starts with the Alphabet C and ends with two other alphabets while the CSCS account number is numeric all through I don’t know my Clearing House and CSCS account numbers ? Ask your Broker or go to the Central Securities Clearing System Limited office. If I have a Clearing House number and a CSCS account number, how do I get a Trade Alert number? A Trade Alert number would be issued to you on subscription and sent to you via SMS Who is an Institutional Investor? An institution that invests on behalf of its clients.eg Banks, Insurance companies etc Who is an Individual investor? Someone that trades stocks for himself/herself Who is a Corporate Investor? Someone that trades stock on behalf of a company I have several CSCS account numbers and one Clearing House number, how many times do I subscribe? Provided you have one Clearing House number, despite your CSC account numbers, you only subscribe once. I have several CSCS account numbers and several Clearing House numbers, how many times do I subscribe?Though it is recognized that some clients have two or more Clearing House numbers for reasons best known to them, It is advisable to consolidate accounts into one Clearing House Number because the number of Clearing House Numbers you have would mean the number of times you need to subscribe. Can I get my Alert on two or more phones? Yes, provided you pay. e.g. my wife and I How can I get a subscription form? Subscription forms are obtainable at the Nigerian Stock Exchange or any of its branches, the Central Security Clearing System Limited, Stock Brokers, all branches of UBA Bank, Guaranty Trust Bank or online at www.nse-cscstradealert.com What happens if my phone is off or I am out of network service area? The Trade Alert system has the capacity to hold your alert message for 24 hours after which it is expunged from the system I live abroad, can Trade Alert work for me? Yes, the Trade Alert platform has the capacity to interconnect with hundreds of networks world wide If I change my phone number, what happens to my Alerts? You would need to call our Customer Care Center to effect the change Where can I make my Trade Alert subscription payment? Payments can be made at all branches of UBA Bank or Guaranty Trust Bank What happens if I lose my phone? You would need to call our Customer Care Centre to stop your Alerts from being sent to the lost phone. Once your line is reactivated, you also need to get in touch with us for your Alerts to continue What are the subscription fees? N3600 for 12 Months How can I reach your Call Centers or Customer Care Centre? Our Customer Care Centre can be reached on any of the following numbers 01-8923627, 8923628, 8179742, 8179743, 8179744 or send an Email to info@nse-cscstradealert.com Can I get my CSCS statement from calling the Call Centers? NO Can I retrieve my past transactions from calling the Call Centers? Yes I am a small time shareholder and the subscription fee is too high for me, what can I do when I want to trade my stocks? For all investors,transaction alert of Trade Alert is free How can I keep track of my subscription? You get notification well in advance, via a text message,on the expiration of your subscription can't find your question . Ask us
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Nicklee (m)
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@ madeonline, you are very correct.Now, have you ever wondered why the CSCS no is unique, which has a combination of your names.Now to those who say CSCS account no is to be used, have you also wondered why when you use different brokers, you have different CSCS acount no but still the same CSCS no.This is because CSCS account no is unique to each stockbroker alone, as that is what they use on your bahalf to trade on the floor, CSCS no is used by all the Registrars no matter the no of stockbrokers you are signed to.
This is why on all PO forms, they write: Fill in your CSCS no and immediately after that, they ask for "name of Stockbroker".
If it was the CSCS acount no they require which is unique to each Stockbroker you use, they wouldn't bother asking for name of Stockbroker.
Please let's not confuse issues here.
The online PO purchase portals ( for both First Bank and Access Bank) did not require you to put the name of the stockbroker. It asked for the CSCS number only. The CSCS account number ( numeric), is not only unique to your stockbroker, it is universally unique, no two persons can have the same numeric CSCS account number. It matches you to both your broker and your CHN. |
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IykeD (m)
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@nicklee, what is the use of CSCS no? from your postings above, you rightly said you can have several CSCS account no if you got several brokers.Now in this case, which do you fill in PO forms considering the fact that you got like 2 or 3 brokers?? The Po forms are even specific about this, it aks for CSCS No and not CSCS Account no. You should use the numeric number and not the CHN in PO/IPO forms. In simple terms, Come to think of it, the CHN remains the same even if you have multiple brokers, but the CSCS account number varies from broker to broker. However, all the CSCS account numbers ( numeric) point to the same CHN. the converse is not the case - ie your CHN does not point to the CSCS account number. in other words, if you use the CHN ( alphanumeric), how would you trade the stocks when it get's credited into 'your account'. You need a broker platform to trade, hence you need the numeric number to TRADE. By the way the numeric CSCS number is also unique to you, and any stock credited to it is automatically associated with the CHN, So, for PO and IPO, use the numeric CSCS number
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tonyjon (m)
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Hi Guys,
I believe the misery surrounding the the difference between CSCS# and CLEARING HOUSE NUMBER (CHN) has now been solved.
I got in touch with CSCS office and I was told that for IPO/PO, the number to use is the numeric one which is known as CSCS# and that the alphanumeric is the Clearing house number.
I was also told that if you use the alphanumeric on IPO/PO application form, your shares will NOT be credited to your account;YOU WILL RECEIVE SHARE CERTIFICATE.
Peace.
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Nicklee (m)
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Hi Guys,
I believe the misery surrounding the the difference between CSCS# and CLEARING HOUSE NUMBER (CHN) has now been solved.
I got in touch with CSCS office and I was told that for IPO/PO, the number to use is the numeric one which is known as CSCS# and that the alphanumeric is the Clearing house number.
I was also told that if you use the alphanumeric on IPO/PO application form, your shares will NOT be credited to your account;YOU WILL RECEIVE SHARE CERTIFICATE.
Peace.
Exactly what I was saying all this while, there is no way your account can be credited if you used the CHN, you need a brokers platform to maintain an account with the CSCS and that is why you have the unique CSCS account number, no two persons have the same CSCS account number, and your CSCS account number is matched automatically to your CHN, Let's let the case rest. |
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Babs_O (m)
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Tonyjon, thank you for reaching out to CSCS office. Thus THE NUMERIC CSCS # IS THE RIGHT ONE TO USE.
It also tallies with what I gathered from 3 out of the 4 Brokers I contacted.
This will be proved right very soon as I am looking out for my First Bank PO to be credited direct to CSCS account number with broker. I believe this should be within the next 2 weeks.
Thanks to all for the contributions.
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bjluv
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@madeonline, if you are stil there and still on this site, could you please inform me if you could still get me a CSCS number? I have also requested to your gmail account,
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VIPICO (m)
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The matter is very simple. IykeD and madeonline have answered the question already. The alphanumeric or CHN is the correct number to use on PO forms. Period.
I have done it severally and I haven't had any problem yet.
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NBA (m)
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The matter is very simple. IykeD and madeonline have answered the question already. The alphanumeric or CHN is the correct number to use on PO forms. Period.
I have done it severally and I haven't had any problem yet.
Why confuse the issue again? The correct number to use is the NUMERIC CSCS #. |
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MyPeace (f)
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am even more confused.
l thot its the alpha numeric.
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NBA (m)
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Hi Guys,
I believe the misery surrounding the the difference between CSCS# and CLEARING HOUSE NUMBER (CHN) has now been solved.
I got in touch with CSCS office and I was told that for IPO/PO, the number to use is the numeric one which is known as CSCS# and that the alphanumeric is the Clearing house number.
I was also told that if you use the alphanumeric on IPO/PO application form, your shares will NOT be credited to your account;YOU WILL RECEIVE SHARE CERTIFICATE.
Peace.
This is confirmation from CSCS, what else do people need? |
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MyPeace (f)
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bcus my broker was saying something like the alpha-numeric, anyway, l will ask him again.
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tonyjon (m)
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bcus my broker was saying something like the alpha-numeric, anyway, l will ask him again.
If your broker tells you that you should use alphanumeric on IPO, then he or she is not competent to be a broker. I will advice you to fire him or her immediately and engage the services of a reliable person. Peace. |
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madeonline
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Bjluv your account should be ready by now. I thought you would have gotten it by trade alert, if not kindly send me an email requesting for it/reminder. I cannot get your real name from this forum and your nairaland id is not on your requistion.
On the issue on this thread. Thanks tonyjon for getting in touch with CSCS. I have not been able to contact a CSCS staff and I have been getting mixed responses from my ongoing inquiry.
Since you have a CSCS contact confirming that it should be numeric, I advise we should stick to NUMERIC for now until a contrary view comes from another CSCS source/staff.
Peace, there is not confusion here , we earlier argued along a line of thought. Your broker may still be insisting on CHN number however I have observed that nairalanders are hardly wrong (the power of number) and I have had cause to rely on some views in here (ofcourse on an objective thread!).
For all you care, if your broker may just view this issue from the previous line of argument I used.
Finally, I suggest WE AWAIT DEC 20TH DATE PROMISED BY FIRSTBANK FOR CREDITING CSCS ACCOUNTS in their public notice (Basis for allotment).
Anyone who used numeric and got online credit should feed us back and for those that used alphanumeric (CHN)should do likewise.
Thanks once again Tonyjon.
Cheers!
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Nicklee (m)
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Question,
If you used your CHN and your account is credited with your shares, How would sell them? Maybe, there is a special CSCS process of converting/assigning a CSCS account number to such stocks for onward trading - you cannot sell your stocks without a CSCS account number, therefore, you cannot expect CSCS to credit your account with just your CHN number. For everyone's information, I reinterate that your CSCS account number (all numeric) is UNIQUE. It is UNIQUE to you and your CHN. No two individuals can have the same numeric number.
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