WHAT ARE THE NECESSARY DOCUMENTS NEEDED TO OPEN AN INDIVIDUAL STOCKBROKING ACCOUNT?
Fill our account opening form (the form can be downloaded from our web site http://www.zionstockbrokers.com/download);
Attach a copy of any recognised identity card, last month’s utility bill, and 1 passport photographs to your account opening form;
A minimum deposit of N200,000 either in form of a cheque/direct transfer into Zion current account, or stock certificates or a combination of both;
Forward the account opening form to our office at 199, Igbosere Road, Opp. Lagos High Court, Obalende, Lagos or through any of our branches close to you or in person.
WHAT ARE THE NECESSARY DOCUMENTS NEEDED TO OPEN A CORPORATE STOCKBROKING ACCOUNT?
In addition to the above documents required for the opening of an individual account, the following are needed for a corporate account:
Certificate of Incorporation
Memat
CAC Form 2
CAC Form 7
2 Passport photo of each signatory is to be submitted
Sealed Board Resolution authorizing Zion Stockbrokers to open an account
Sealed Board Resolution stating signatory's names and specimen signature to account
Signature mandate
In-case of share certificate verification, the transfer form must be sealed with board signature mandate attach to it.
WHAT ARE THE CHARGES FOR DOING TRADES THROUGH ZION STOCKBROKERS LTD ON THE STOCK EXCHANGE?
Our total charge for buying is 1.35% and selling is 1.35% of the value of the transaction.
WHAT DO I NEED TO EFFECT A TRANSFER FROM MY PRESENT STOCKBROKING FIRM TO Zion?
You could transfer your stockbroking account from another firm to Zion by:
Filling out an inter-member transfer form (available on our web site). Your present Stock Broker signs off and places their official stamp on it;
They also should print out your most resent CSCS statement and attach to the completed form in “1”above;
Attach a letter written by you addressed to the Nigerian Stock Exchange communicating your intention to transfer your shares from your present stock broker to Zion;
d. All documents in 1-3 above should then be forwarded to us for processing @ CSCS.
Such transfers attract a charge of N1,000:00K which should be lodged into our current account 0008667411 - Zion Stockbrokers & Securities Ltd. The deposit slip evidencing lodgement should be attached to the documents in 1-3.
WHAT IS THE TIME FRAME TO VERIFY DEPOSITED CERTIFICATES?
There is no fixed minimum or maximum number of days to conclude certificate verification. Share certificate verification has a tripartite inter-phase (Stockbroking firm, registrars and CSCS), hence difficult to stipulate an exact time frame for certificate verification.
Our experience shows it usually takes about 2 weeks on the average, subject to accuracy of documentation.
WHY ARE CERTAIN TRANSACTIONS NOT EXECUTED ON THE EXACT DATE IT WAS JOBBED?
Execution of transactions is dependent on the Bid-Offer situation in the market at any particular time. We at Zion however, strive to ensure our clients’ instructions are promptly executed within the shortest time possible.
WHY CAN CLIENTS NO LONGER VIEW THEIR CASH STATEMENT FROM INCEPTION?
The web site displays only trades done in the last four weeks. In order that you may have the complete statement, please send a request to info@zionstockbrokers.com stipulating the time frame you desire.
HOW CAN WE OBTAIN OUR CSCS STATEMENT?
In order to get a copy of your CSCS statement, please send an e-mail to info@zionstockbrokers.com
HOW DO I ACCESS CSCS ON-LINE?
You can access your stock position in CSCS through the internet via a direct subscription to CSCS Plc website. The following are the steps to be undertaken.
log-on to www.cscsnigeriaplc.com. Locate the user information on the top right corner of the site and click on “register”.
Fill and submit the form online
Make payment at any of the designated bank accounts indicating the following on the bank payment slip.
Full Name (Shareholders Name)
Clearing House Number/CSCS NO. (eg. C123567AB)
Submit the completed stockbroking firm’s Identification Form duly signed and stamped by Accredited representatives of the stockbroking firm to CSCS head office
IS IT POSSIBLE TO HAVE TWO STOCK ACCOUNTS WITH DIFFERENT STOCKBROKING FIRMS AND RETAIN ONE CLEARING HOUSE NUMBER FOR BOTH ACCOUNTS?
WHAT IS REQUIRED TO GET A REFERENCE LETTER TO AN EMBASSY ISSUED ON MY BEHALF?
Send an e-mail (using your registered e-mail address with us) or a formal letter requesting for a reference letter stating the particular embassy (and it’s address) you want the letter addressed to.
