Etin:

@NBA

e reach to tire o. Who is your contact? Try calling the customer service number I have found it very useful and response are quick. My contacts have been

Isi and Olajumoke

I have a smaller window of opportunity to call Nigeria during business hours there due to the wide time zone difference. I sent an email stating my next line of action if I did not get a response and the Product Manager responded with an apology stating it had been dispatched but had to contact the courier for tracking information. So nothing yet.

Etin:

http://www.investordelight.com

Useful tool/site for portfolio valuation and refreshed daily and frequently during the working day

@Etin
Yes it is a useful site but an even better one may be http://www.nigeriansecurities.com/
Check it out.

I may soon request for prescription to control my addiction to this thread!
Have a great day!

@Naijadr,
Nice post.
It's knida early,  insomnia?

Etin:

@NBA
hope you are well and haven't given up on Diamond Bnk yet, I havent' been able to login yet but i am still optimistic. I am told that my debit card would be sent by another post. Its all good -nmy training in patience!!

You mentioned sending money to your stock broker by paying (wiring) into his Citibank account in the states using the official exchange rate. Please I need to know how to get this official rate. Is there a website that would give this information?

@Etin,
I dey O, I don tire for Diamond Bank, nothing yet! I will send another email.

I see the question about the rates have been answered. I sometimes use XE.com or yahoo currency.

Etin:

Hello Everyone,

I just learnt that Diamond Bank has it own Stock Brokers -Diamond Bank Securities. Please has anyone used them ?

http://diamondbanksecurities.com/

I am guessing they are new, they are not yet listed on the SEC list of current market operators. http://www.sec.gov.ng/cmocurrentlist.htm

help me:

NEED YOUR HELP MY BIG BROTHERS NSE'S GURU
I GOT AN INVESTMENT WITH IBTC(EQUITY FUND),THAT I STARTED EARLY THIS YEAR
I GOT MORE 1M IN MY PORTFOLIO,I STARTED WITH 900K AND BY NOW I HAVE GOT
MORE THAN 40% ON IT.BUT I WANT TO BE A PART TAKER IN THIS P.O AND I.P.O(BAGCO).
DO YOU ADVICE ME TO WITHDRAW 1M FROM MY PORTFOLIO TO INVEST IN BAGCO AND BANKPHB
BECAUSE I DONT HAVE PEPPER AT THE MOMENT.I NEED YOUR SOLID ADVICE MY BROTHERS BECAUSE
I JUST STARTED.

@help me
It is a tough question for someone to answer as it depends on a lot of factors. The Equity fund @ 40% is less risky, for those of us abroad 40% is actually a fantastic return. However, the potential to make more from the PO's you mention is there. I suggest you browse through the Stockmarket tips for Nigerians thread for more info - the feeling there is the Bank PHB offer is a very good one.

udezij:

Hi NBA,i am currently in Wales,Uk for study so how do i buy shares

OK, I was thrown off by the location.

To buy shares you need a stockbroker, though not required for PO/IPO's, I think its the way to go. There is a lot of information on this thread if you read through it and more on the Stockmarket tips for Nigerians in case you haven't discovered it. https://www.nairaland.com/nigeria/topic-31554.0.html

If you already have UBA, the NRN product is cool.  Some here have the whole UBA suite, banking and stockbroking and it works well for them though they need N250K to open the account.

udezij:


Hi NBA,i have seen your post, it is interesting.Can you give me a good stock broker,which i can use to buy share and which bank should i use though i use UBA.Is there anyway i can open an Account for N50,000 or N100,000.

Hope to hear from you

Hi @Udezij
Your location says u are in Nigeria, if so, you are spoilt for choice to which bank or broker to use. I hear GTB has the best customer service so you may consider them if their locations work for you. A broker for N100K, there are several so do ask around for recommendations. On-line access is high on my requirement so I will suggest Cashcraft as they have very good on-line account management and a useful website. They will accept N100,000 to open an account, I heard they will accept less but customer service is spotty, worse if you do not get a good account manager.

Hope this helps.

cutebabe:

What about remitting money from Nigeria to UK.
Who has the best rate and how do you go about it.

@cutebabe

I haven't had to do this through a service but UBA can do such for NRN customers. Here is a previos post on this.

About sending money from Nigeria abroad, below is a conversation I had a while back with my relationship manager. I have not had to do this yet though.

Question to UBA: What options do I have to remit money back to myself in the US?

Response: To effect transfers to your US address, kindly give us a duly signed instruction to transfer to your account in US stating your bank’s SWIFT details. It typically takes two days to reflect in beneficiary account.

Question to UBA: That's good, how much does this transfer cost?

Response: Its 0.5% of amount transferred plus VAT (5%) and a telex charge of USD 25.

Etin:

@ NBA et al,

Update on Diamond Reach Account. DHL Recieved today (actually came on Monday but I missed it)
[list]
[li]Cheque book issued in pounds sterling "For use in Nigeria only" a bit strange why would I want to spend pounds in Nigeria![/li]
[li]Internet login[/li]
[/list]

No ATM Card and no instructions on how to use it or what url yo use I guess I may be able to work that out myself

@Etin

Great news! They sure took their time and yeah that is weird with the Pound Check book Wondering about that, I assume they will send me a $ Check book?

http://www.nse-cscstradealert.com/FAQ.htm
FAQs 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.

[b]I have several CSCS account numbers and several Clearing House numbers, how many times do I subscribe?[/b]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

Cant find your question . Ask us

fntekim:

My gurus in the house,
plaese can u take the time to explain the meaning of forward PE, trailing PE etc?
I'm seriously interested n set to make a killin in the market next year.
I want to start now to acquaint myself. Thanks in advance.

Read the threads below, you will get a lot of answers to your questions.

https://www.nairaland.com/nigeria/topic-31554.0.html

https://www.nairaland.com/nigeria/topic-82565.0.html

Frances .O:

plz if there is any vacancy in any company or bank try and notify me.am new on this site

@Frances
Try the section below, it focuses on Jobs. Good Luck with your search.
https://www.nairaland.com/nigeria/board-29.0.html

FatherOF2:

Share the info with us and we can help you deliver to easimoni

:-)

Please can somebody explain if it is possible for a stockbrother to take a higher price or if its possible for a stockbrother to sell his own shares to a client at a high price?

@Rhemagirl
Ask your friend to always set a price limit to prevent this from happening.

@cutebabe

Yes, based on my personal experience and that of others posted here. I hope more people with good experiences with other firms will share.

In addition to @X-2-X's response, the minimum to open the Domiciliary Account is $1000. The minimum operating balance for savings is N1000; the current has no minimum operating balance while the domiciliary is USA 100. I think I funded one then moved the money to the others to satisfy the requirement.


Etin and I have been waiting for the account documentation to be couriered for weeks from Diamond Bank with no joy so can't say what the service would be like with such a poor start.

Other banks have Diaspora offerings - PHB, Fidelity, etc but I don't know anyone using them. Nigeria Galleria site lists banks, stockbrokers, etc in Nigeria with links to their website if available. (http://www.nigeria galleria.com/Banking_and_Finance/Banks.html) Please remove the space between nigeria and galleria in the link, strange but it won't let me post as one word??

The Visa lottery is real. You can complete the free application yourself on-line, no need to pay anyone. It's pretty straightforward forward, just follow the instructions.

Below is the official website.
http://travel.state.gov/visa/immigrants/types/types_1318.html

Mr. Cee:

@ NBA

DON'T YOU THINK THAT VETIVA COMMISSION IS A LITTLE HIGH HIGHER THAN THE RECOMMENDED COMMISSION RATE. THEY ARE MY BROKERS AS WELL WHAT SHOULD WE DO?

@Mr Cee

The allowed range is .75 to 1.5%. http://www.sec.gov.ng/cmocharges.htm

They are charging the max like many other brokers are. I guess we all found out on the Stockmarket Tips for Nigerians thread that brokers commission vary. We should send them a note asking how to reduce the commission, I suspect it will be tied to the volume of transactions but won't hurt to try.

I tried consolidating my CSCS account when I opened an account with a second broker but the 2nd broker ignored the request to use the existing CHN number. I have had no issue having separate accounts, my plan is to slowly sell off my holdings with the first broker anyway.

Vetiva charges 1.5% commission for both buy and sell. Inclusive of mandatory charges
buy becomes 2.435%
sell becomes 2.77%

X-2-X:

I thought the charges where minimal, at least when u use the NRN Savings? Please confirm that, because I am on my way to opening a NRN account myself this weekend.

Thanks.

Yes, the Savings have few charges, I posted these a while back. The checking (current) has much more but overall the charges have not been a deal breaker, I just adapted.

By the way there is a N105 monthly charge on the checking account.

Hi Etin,

Yeah, I know. I do not think the product was ready for prime time when they launched it. I had a naira dividend check mailed to me in the US so contacted them about paying it into my account. 2 weeks no response then after my third email they said to mail it to them. I mailed it to UBA instead.

I hope it gets better but this hasn't been a good start.

krisbobo:

@others
Please i ask for the name of a stockbroking firm where i could open an account with 250k and i would be able to monitor my stocks online and get quick service in terms of buy and sale orders. Please this info will be well appreciated.
thanks.

@kriskobo
Cashcraft - not the best customer service but great online package and will open an account for 100K
http://cashcraft.com/

@X-2-X
To my suprise, my UBA NRN experience (if I ignore the charges) have been quite good. The account was opened in 1 week and the online access was completed in another 2 weeks.

Hey guys,

Still nothing new from Diamond bank per account documents 2 months into the Diamond reach application.

netotse:

please o u guys for the nth time, is there anyone that uses cashcraft here?i want to open a cscs acct and i have 100k is it possible?

the poster bears no responsibility for the posts below the consequences of his actions were not fully thot out and so cannot be used against him!

for the dude that was asking about borrowing money for stocks i know a bank that can give u money they are represented all over the cntry(all over the world sef!)i applied to them for a loan, thing is the bank is kind of time based, most of the people here wont qualify for loans with their respective branches, but if u're interested the name is _{central bank of mummy and daddy}

@all sorry if my moment of unseriousness is inapproppriate

I still have a Cashcraft account though I stopped funding it and switched to another broker. I wasn't impressed with the customer service. Having said that, Cashcraft does have good online account management and a good informative website. Yes they will accept 100K and comments I read from others indicate you could be OK if you get a good account manager.

chiboyz:

Hi guys, I am a novice in dealing with Nigerian stock market, however i tried to open an account with IBTC and they sent me a form that requires that i disclose my personal details like DOB, residence and work address, income and mother's median name. A'm a bit worried about disclosing all these information because of Nigeria's reputation with ID fraud. Is there a way around this 'because i really want to get into the Nigerian stock mkt.

@Chiboyz
Not sure you have a choice, they need a way to identify you. As long as you do not include your social security number (if you are in the US) you are OK. Also IBTC is a reputable firm so one would hope they keep their records secure.

@Temmie10
The thread dey miss you well well! Thanks for still taking time off to help others out.

What is happening to UNIC It's been dropping fast.

Anyone with any news or theories?

@Mr Cee,
I have tried several times but they insist. No worries.

I do not think they had the Nominee account when I opened my account with them or I wasn't informed. I found out about it on this thread and inquired but they said:

We would like to inform you that your account has already been set up as a standard brokerage account. Please note that Nominee Accounts are set up from the onset at the CSCS as Vetiva Nominee accounts.

Vetiva still insists on sending the hard copy of the application form for PO's. I go this response today.

"Thank you for your email.

We would like to inform you that you would need to mail us a hard copy of the FCMB application form."

Mr. Cee:

I read this article from proshare and believe it might be beneficial to all,

http://www.proshareng.com/myproshare/portal_articles.php?id=1292

@Mr Cee,

Nice article, thanks for sharing it.

I agree with the recommendations though I do use my stockbrokers address myself to avoid complications with sending mail abroad. I have some confidence in a firm like Vetiva but more important is I am able to monitor everything myself online. All my purchases to date can be viewed online, including my POs/IPOs which show up as Primary Issues Outstanding. For the secondary market purchases they always issue a contract note (detailed receipt) which is also viewable online. I also save a copy of all these for myself. I planned to request a CSCS statement every quarter but may change it to monthly as suggested if I carry out a lot of transactions.

My previous broker used my work address in the US as my postal address for CSCS and I wasn't aware until I got a dividend check from Intercontinental Registrars for my Wapic Insurance holding.  I was lucky to receive it as they omitted the building number on the address. Now I have to mail this back to be paid into my Naira account.