Changing My Stock Broker?

Approach your resident broker (old broker) for your cscs statement of account and inter house transfer form. fill the inter house transfer form, get your resident broker to sign it out and submit to your target broker (new broker) for processing.

madeonline is right
or better still just walk up to another broker anbd your good the broker can't stop you from changing to another one so he can't take any thing from you

Don't you have a choice to sign or not to sign? If the resident broker does not sign, the transfer cannot be done. Making someone to sign a document that will result in loss of income to him is not an easy task.

To move your shares from one stockbroking firm to another you need to have the underlisted documents :

(a)   Inter-Member Transfer form duly executed by the Shareholder, the resident stockbroking firm (your current stockbroker) and the target stockbroking firm (your prospective stockbroking firm)
(b)   Letter of Transfer of Shares addressed to the Director-General of the Nigeria Stock Exchange.
(c)   Copy of  CSCS Statement containing shares sought to be transferred.

It might be easy to think that a stockbroker would not sign but then you have to realize that there are a lot of watchdogs to cater for the interests of investors. You’ve got the Nigerian Stock Exchange and the Securities and Exchange Commission to make a report about any erring stockbroker who refuses to sign and stamp your inter-member transfer form.

Good news

Hello Dis Guy

just read your piece so I thought I should react thus.

Alot of what I do in the course of my job involves dealings on shares : verifying share certificates, preparing documents for placing lien on shares, giving instructions for lien placed on shares to be released and lastly Inter-member transfer of shares from one stockbroking firm to the other

I can assure you that we effect these Inter-Member transfer of shares on a weekly basis and I don't think its as difficult as they make it sound on this thread.

You all have a great holiday

Thanks Dibosa ,  I know it is easy to change brokers. I just fired one and hired one (right from good advice taken from threads on nairaland!). Dis Guy should note that it is not difficult changing a broker unless he gives in to the resident brokers plea that he should not move his account. I can recommend you to my broker if you so desire.
Dibosa are you working at CSCS? Pls give be a buzz eruobodo@gmail.com