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somehelpington:
Good morning all! Pls pardon my grammatical errors. I'll try to be brief.

It's been almost 10 years since my dad passed away (May his soul rest in peace) and things hasn't been quite rosy for us. He worked in one of the old generation banks in the East.

Here is the issue, few years after his death, I saw documents of some shares he bought years back. Shares of Access, First Bank, Zenith Bank, Union Bank, GTB, Intercontinental, Oando etc. So, I've discussed with my mum about selling off the shares but the problem is we don't know where to start from.

How can we go about selling those shares? I mean how can we easily get rid of them? (sell them off)

Pls I really need your suggestions.

Cc: lalasticlala, dominique

Go to a stock broker in your state and tell them you want to learn about stocks, let them explain the stocks of those banks for you so you know their current worth... then if it is profitable simply inform the broker that you have some stocks to sell..... THAT'S ALL.

blackpanthar:


Go to a stock broker in your state and tell them you want to learn about stocks, let them explain the stocks of those banks for you so you know their current worth... then if it is profitable simply inform the broker that you have some stocks to sell..... THAT'S ALL.

Thanks for your input. What stock broker do you suggest for us since I stay in Owerri because the last time I went to the bank, I was treated like a criminal (no jokes).

somehelpington:


Thanks for your input. What stock broker do you suggest for us since I stay in Owerri because the last time I went to the bank, I was treated like a criminal (no jokes).

Run a Google search. List of stock brokers in owerri. Follow the lead

Do you have a letter of administration of the deceased? Are you his next of kin? Then approach a stockbroker to open a Cscs(Central securities clearing system)account.

The registrars of these companies will then be notified of the death of the shareholder and the request that shares be transfered to his next of kin.

Most of the registrars are based in lagos but you should be able to convince your stockbroker to liaise on your behalf for a fee.

somehelpington:


Thanks for your input. What stock broker do you suggest for us since I stay in Owerri because the last time I went to the bank, I was treated like a criminal (no jokes).

Ha, like a criminal? kai... sorry about that, naija is now a zoo sha. Anyway.... for Owerri the ones I used to knw are
Owerri Stock Brokers.
1 Pinefields Ltd. 134 Wetheral Road, Owerri, Imo State Nigeria. 08111799032, 08071991722.
2. Solid-Rock Securities and Investment. No 13 Okigwe Road, Owerri, Imo State Nigeria. 080,35,49 6139.
3. Valueline Securities And Investment. 1 Mcc Road, Wetheral Owerri, Imo State Nigeria. 08,06891,0494

somehelpington:


Thanks for your input. What stock broker do you suggest for us since I stay in Owerri because the last time I went to the bank, I was treated like a criminal (no jokes).

visit nigeria stock exchange site

I wish u GOD speed and may u have dividends.

somehelpington:
mamatwiny, donbachi, ghettokid1, CokeBar, EVILFOREST.

You need to dematerialise the Documents first by opening a CSCS account. This can be done through any stock brokerage firm which will serve as your clearing house agent.
I'll advise you approach a corporate stock brokerage firm. Check on Nigeria Stock Exchange site (nse.com.ng) to get any preferred firm and at your location for accessibility.
Good Luck

somehelpington:


Thanks for your input. What stock broker do you suggest for us since I stay in Owerri because the last time I went to the bank, I was treated like a criminal (no jokes).

What part of the country are you?
You can talk to Meristem Registrar's if the volume and values of the shares are huge.

RedPhoenix:



Run a Google search. List of stock brokers in owerri. Follow the lead

Ok bro

iyatrustee:
Do you have a letter of administration of the deceased? Are you his next of kin?

---

Then approach a stockbroker to open a Cscs(Central securities clearing system)account.

---

Pls how do we go about this?

The registrars of these companies will then be notified of the death of the shareholder and the request that shares be transfered to his next of kin.

Most of the registrars are based in lagos but you should be able to convince your stockbroker to liaise on your behalf for a fee.

We have the letter of administration.

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middlebelter:


What part of the country are you?
You can talk to Meristem Registrar's if the volume and values of the shares are huge.

I'm in the East (Owerri). How about that?

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ghettokid1:

You need to dematerialise the Documents first by opening a CSCS account. This can be done through any stock brokerage firm which will serve as your clearing house agent.
I'll advise you approach a corporate stock brokerage firm. Check on Nigeria Stock Exchange site (nse.com.ng) to get any preferred firm and at your location for accessibility.
Good Luck

He is right.
But no 1 step is to get letter of administration from govt. This takes some time; about 6months.You will also pay about 10%of ur dad perceived worth to govt upfront.They will paste the notice of letter of administration in your local govt for a duration of time, if nobody comes up with counter claim, they will give your the letter. If you are made the administrator of his estate, you can claim his shares, money in the bank and other properties. But the proceeds will be credited into an account you will open named 'estate of 'your father's name's '

Step 2. After getting the letter of administration and opening the estate account, you can then visit the registrar of those shares. They will tell you of any bonus or outstanding dividend . You can then visit any stockbroker to open another shares estate account and sell off the shares .

My advise ;
Before you proceed on this task, if your dad's shares are not blue Chip like con oil and good coys, you might find out that the shares worth nothing. Imagine spending 50 to 100k for the process and at the end of the day, the shares worth 20k. Check the value b4 u proceed.

For getting the letter of administration, you can use a lawyer, or do it yourself. You can Google to find out how to do it yourself as someone once posted it very long time ago on nairaland

Editted
I just saw you already have the letter of administration. That is good news. You can visit a stockbroker in owerri to assist. I have a broker that I would have suggested but he is here in PH. Owerri will be better. Note, some brokers will tell you to open stock account which is btw 5k to 10k depending on the broker.

somehelpington:


Thanks bro. Would you recommend any?

Recommend what again?

Since you have letter of administration go to the stocbroker of the shares. Each company has their stock broker. U have to open a bank account with the deceased name with you as next of kin this is where d money would be transferred to.

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somehelpington:


GM bro,

Pls how do I know their stock brokers?

Check online

Stock brokers for so so so you'll get it

Once you go to their office with your letter of administration. They would check on their system write something on it and stamp. You'll do this for all shares your father has. After that you take it to the high court again to approve and give you confirmation that the next of kin must finally sign

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