Some years backn in 2008, i handed my shares certificate to a stock broker from a firm (name withheld) that he should open a CSCS account, transfer the shares and sell... The shares were MRS and Nigerian brewries. He opened the CSCS acct, and forged my signature for an authority to sell and sold it and spent the money. I later found out that he sold some from the MRS and blocked it. This year when i wanted to transfer the Nigerian Brewries shares i went to the registrar and was told the same stockbroker of the firm sold 10000units of the shares...
What will i do to reclaim all this my shares back?

What kind of question is that? Call the police!

jeron1: Some years backn in 2008, i handed my shares certificate to a stock broker from a firm (name withheld) that he should open a CSCS account, transfer the shares and sell... The shares were MRS and Nigerian brewries. He opened the CSCS acct, and forged my signature for an authority to sell and sold it and spent the money. I later found out that he sold some from the MRS and blocked it. This year when i wanted to transfer the Nigerian Brewries shares i went to the registrar and was told the same stockbroker of the firm sold 10000units of the shares...
What will i do to reclaim all this my shares back?

Hi Jeron.


Regarding the authority to sell with your signature. A law guiding the activities of Stockbroking is that the Cheque issued from the proceeds of sale of shares be issued in the name of the Client (your name) with a valid I.D. like the Drivers license, passport & National I.D.

The first step you should take is to write a letter to the Nigerian Stock Exchange(NSE) reporting the matter even the one that dates back to 2008 and this letter should be copied to the securities and Exchange Commission (SEC) they would be so happy to screw them. I assure within 24hours an Investigation will commence on the Stock Broking firm even audit their accounts to protect other investors they would even be suspended from stockbroking business and EFCC would also be invited to arrest the criminals in the firm including the M.D.
Pls ensure you make the best out of the refund, e.g Find out when the Shares of your Nigerian breweries was sold and collect it in 10000 units because some crooks would say when they sold it was N90 which is none of your business. If it is a reverse, that is, the price it was sold is worth more than the current value collect at price sold. Ensure you find out the worth of dividends on both to date and and collect them from the firm.


But pls right NSE & SEC as soon a possible. They are always eager to deal with defaulters.

jeron1: Some years backn in 2008, i handed my shares certificate to a stock broker from a firm (name withheld) that he should open a CSCS account, transfer the shares and sell... The shares were MRS and Nigerian brewries. He opened the CSCS acct, and forged my signature for an authority to sell and sold it and spent the money. I later found out that he sold some from the MRS and blocked it. This year when i wanted to transfer the Nigerian Brewries shares i went to the registrar and was told the same stockbroker of the firm sold 10000units of the shares...
What will i do to reclaim all this my shares back?

Did you deal with the company or an individual? If you dealt with an individual (whether a broker or not), the case is a bit complicated because he could have gone to a firm with forged documents (ID even international passport) to open an account in your name. This case takes longer to resolve

But you should go to the stockbroking firm and ask them to give you your CSCS statement, the statement of your account with them (money paid, Naira amount of shares sold and payment out of the account). Next, they should give you details of payments out of your account (including photocopies of cheques)
Go to CSCS and ask them to print the history of your CSCS statement. These shows when stocks were credited into your CSCS account and when they were sold
Ask the registrar to print the history of your account. This is similar to history of CSCS statement but is more comprehensive because CSCS cannot know the share certificates you have not lodged, but the registrar knows
Since your stock has been sold without any payment to you, just report the broker (I am assuming you dealt with an individual) and the firm to CIS at Bookshop House

Let us know your progress on this matter to know what next to do
If he forged your signature, it will be easy to take him out of the market

Thanks bro, i dealt with a broker of the company and the guy is on the runn now cos he also duped a lot of people..but i will be blaming the company cos he went there with a forged signature orederin to sell and they sold and they paid him the money in his name cos he said i was too busy to come and that he wld give mi the money...