Frequently Asked Questions - Stock Market

To start to invest through us, you can contact the office for the account opening forms or download the forms from our website for completion. These completed forms are then sent to us and are processed. After establishing the KYC (Know Your Client) as appropriate, transfer instructions are given to the client or cheque received made payable to CentrePoint Investment Limited.

Centrepoint Services has been tailored to meet the following:

• Access to your account on-line within Nigeria and Overseas 
• Professional Advice to enable you make sound decision from our Trained Personnel
• Access to market information from time to time through our Research initiatives.

We offer products tailored to suit a broad range of client segments. Our products include: Bonds (FGN & State), Exchange traded funds equities, Treasury Bills and fund management.

Whether you are a corporate entity, sovereign organization, non-governmental organization or individual investor, we can offer products and services which are tailored to your needs in order to achieve your investment objectives.

Yes, we are licensed by the Nigerian Securities & Exchange Commission to carry out business as a Stockbroking firm and other relating business. Woodland Capital Markets Plc is also a dealing member of the Nigeria Stock Exchange.

Equities, Bonds and Exchange Traded funds and other services we offer have regulatory prescribed charges. Below are regulatory charges for the under listed services:

Purchase of shares

Brokerage commission: - 1.35% of Consideration (negotiable).
VAT: - 5% of brokerage commission
SEC Fees: - 0.30% of consideration. (Consideration is the amount the investor wants to invest)
CSCS Fees: - 0.06% of consideration.
VAT: 5% of CSCS Fees
Stamp duty: - 15 kobo on every N200 or part thereof (0.075% of consideration)
Sale of shares
Brokerage commission: - 1.35% of Consideration (negotiable).
VAT: - 5% of brokerage commission.
CSCS: - 0.36%
NSE: - 0.30%
VAT: 5% on CSCS & NSE Fees
Stamp duty: - 15 kobo on every N200 or part thereof (0.075% of consideration)

These are a function of many variables e.g:

It is a market and the cycle for each listed security is different.

The stocks or combination of stocks to buy will also depend on your short and long term objectives as well as how much money is available for this. 

The general rule is a combination of stocks bought regularly over a period of time.

For a basic guide to list of available stocks and possible prices, you can use any of the daily papers.

In view of all this, you need to talk with a stockbroker or trusted adviser.

A Stock Exchange provides a market, which facilitates the buying, and selling of securities like shares of quoted companies, bonds, options, futures and other tradable instruments. 

SEC is the apex regulatory institution of the Nigerian Capital Market with the basic objectives of investors protection and capital market development towards enhanced socio-economic growth and development.

CSCS is an acronym for Central Securities Clearing System Limited. It is a limited liability company which was incorporated by the Corporate Affairs Commission. It was licensed by the Securities and Exchange Commission as an Agent for Central Depository, Clearing and Settlement of transactions in the stock market.
It operates a computerized depository, clearing settlement and delivery system for transactions in shares listed on The Nigerian Stock Exchange.
CSCS facilitates the delivery (transfer of shares from seller to buyer) and settlement (payment of bought shares) of securities transacted on the floors of The Nigerian Stock Exchange. It enables stocks to be processed in an electronic book-entry form thereby substantially reducing the period it takes a transaction to commence and end.