Please help me. I don't know what to do. I have asked that my account with BGL be closed and they transfer my stock to my new brokers. My new broker sent them an inter-member transfer form to sign almost one month ago. BGL has refused to sign it. BGL has refused to pay me back the balance of my cash account. My (former) account officer told me that I have to sell my shares and use the money to buy again from Greenwich. That means I will lose money when I sell, and probably lose more when I buy if the prices go up. I told them that they should transfer my stock.

Now my (former) account officer in BGL is not taking my calls. I have written them, I have gone to their office. Please what do I do?

Am not an expert but i think you've taken the right steps so far. Please seek proffesional advice from your new broker or be patient and wait for nairalander proffessional brokers. If transfers are possible then BGL has no choice but to do that, they're simply not happy that you're dumping thier services.

Sue them...

report them to SEC

Go to them with your lawyer or let your lawyer write them

Report to SEC and take the issue to a lawyer..

This is why I'm scared to do anything with Nigerian stock market. They are so unprofessional . Unless you belong to the click and know your onion.

Ask mynd44 or mukina2 to help you put on front page.

I will advise anyone to invest in the OTC market anytime anyday... Things are alot more structured and organized with approach to business, trades and settlement. Sample OTC markets in nigeria include FMDQ, NASD etc...

@OP, send a detailed complaints to SEC, NSE, the Consumer Protection, send a copy to your broker, both old and new. Make sure your complain are well structured. Wait 1month and see what happens. Please include a valid email and phone Nos. I have done that before and it worked like magic

mamathrice: Please help me. I don't know what to do. I have asked that my account with BGL be closed and they transfer my stock to my new brokers. My new broker sent them an inter-member transfer form to sign almost one month ago. BGL has refused to sign it. BGL has refused to pay me back the balance of my cash account. My (former) account officer told me that I have to sell my shares and use the money to buy again from Greenwich. That means I will lose money when I sell, and probably lose more when I buy if the prices go up. I told them that they should transfer my stock.

Now my (former) account officer in BGL is not taking my calls. I have written them, I have gone to their office. Please what do I do?

Financial Advisory cost a fortune you know!

Firstly, Accounts are not transferred using Inter-member Transfer Forms especially with these big brokering firms. But rather, transfers are done online via the CSCS platform.

No firm will release an account that is in debt, or if in doubt, an acceptable explanation must be provided. So I advice you go to BGL and make the investigations yourself. Moreover, for oversignt function, BGL will need to know that they are dealing with the real owner of the portfolio.

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