Investing in the Nigerian capital market

I am in the US and would like to start investing in the Nigerian stock market from abroad and since the prices are low. I want to know how safe it is to do this and which stock broker has an online presence that I can rely on

Posted by Felix Okoli on July 16, 2010 at 01:57:17:
In Reply to: Investing in the Nigerian stock market posted by Obinna on July 16, 2010 at 01:34:06:

Locate the website of a securities company in Nigeria and get their phone number and address. I would recommend www.zenithsecuritiesng.com

Here is how you basically buy shares from them:

1. Open a CSCS (shares) account.
2. Get advice from their skilled customer service staff backed by our research department on which shares to buy.
3. Write a cheque in favor of Zenith Securities Ltd or deposit money into their bank account to cater for the purchase. You can also ask them for other means of payment for you either by bank to bank transfer or western union.
4. Place the purchase order.
5. Follow up after 36hrs through phone call or online access to your account.

You can then log into your online trading account with Zenith Securities and get updates on your investment

Posted by on July 26, 2010 at 06:33:45:
In Reply to: Investing in the Nigerian stock market posted by Obinna on July 16, 2010 at 01:34:06:

please how do i get to know the viable shares to invest on,i am not in Nigeria.I will equally know like to know the best way and time to invest and the cheepest broker that will be good for low income earners.

Posted by on July 26, 2010 at 06:33:45:
In Reply to: Investing in the Nigerian stock market posted by Obinna on July 16, 2010 at 01:34:06:

Well as far as the right time is concerned, this is the best time to buy because the year is half gone and prices have fallen low already. Try to invest in stocks which have not much debts and scandal associated with them. You can best bank on some baking stocks like UBA, Sterling, Intercontinental, Fidelity, Unity and even Union bank.
If you are looking for a broker and you are based abroad, getting a reliable broker is better rather than just getting anyone just for the sake of cost. Seek an investor that will allow you to have online access to your CSCS account in order to check your stocks via the net. Choose a broker that has good record and has been in the business for the long term. Selecting a brokerage company owned by banks is also better such as Zenith Capital, Union securities, Intercontinental capital markets and others.

As far as investment costs are concerned, the only thing you have to pay your broker is around 3% of the total cost of your sale or purchases. With around $500, you can start buying shares in Nigeria even if you are based abroad and you should make sure that our broker has a good website where you can make orders, send funds as well as having access to another website called the cscs website located at www.cscsnigerialtd.com where you can view your stock positions and price it was bought or sold.

Posted by Janet on September 11, 2010 at 06:39:11:
In Reply to: Investing in the Nigerian stock market posted by Obinna on July 16, 2010 at 01:34:06:

Point of correction. Union bank and Intercontinental had some problems and so i would recommend a safer investment in banks like Zenith Bank, GTBank and Stanbic. First Bank and Zenith are both at price of N12 after falling from more than N40 a year ago.

Posted by Kayode on January 02, 2011 at 04:37:05:
In Reply to: Investing in the Nigerian stock market posted by Obinna on July 16, 2010 at 01:34:06:

When it the best time to sell my shares in 2011? I really need the money but i would want it to appreciate first