Can anyone tell me a trust worthy way to buy nigerian stocks from outside the country?

Hi pheebs,

Your best bet would be through a trusted relative or friend living in Nigeria. This is the setup: you will need to open an account
(i.e. the CSCS account) with the Central Securities Clearing System (www.cscsnigerialtd.com) through a reputable stockbroking firm. Some very good firms allow you to download the relevant forms(such as the mandate form) on their site. After the forms have been completed you can mail it to your contact to take to the stockbroker. In the future some firms might begin accepting payment online but am not sure if that is in existence now.

I recommend using a trusted contact on the ground because of the incidence of unexecuted mandates that is unfortunately prevalent. Your contact will provide the follow up which may or may not be necessary. If you have substantial amounts to invest you will likely get better treatment from the firms such as access to a dedicated advicer with whom you deal without need for a third party.

---bb6xt