How Nigerians abroad can invest in the Capital market

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Posted by Felix Okoli on Monday May 9, 2011 at 16:49:15:

Even if you are not living in Nigeria currently, you can still invest some money home by putting it in the capital market.
Nigeria's capital market has experiences its ups and downs with high profits and shakedowns a couple of years ago but right now it seems that most most stock prices have become more attractive with some even trading at rock bottom values.

So how do you invest in the Stock market from abroad? Well here is what I suggest:

- Look for a reliable website of securities company in Nigeria. A good example will be zenithsecuritiesng.com
- Sign up with them for an account
- Go to cscsnigerialtd.com to look for stocks you would want to buy and their prices
- Decide on the stocks to buy and how to pay
- Make an online order with the securities company
- Pay them by means of bank wire(from abroad) or transfer from a local bank if you have access to your account in Nigeria
- Get to know your cscs account number and investors number with your broker
- Keep records of your transactions in secure places like in your email folders

Note: You don't need to pay any seperate money to a stockbroker for trading for you. They only take their commission on the value of shares they helped you to buy or sell. You only have to make a deposit relative to the value of share you want to buy or sell.

Examples of stock brokerage companies you can work with are:
- http://www.cashcraft.com
- http://www.gticapitalltd.com
- http://www.bglltd.com
- http://www.zenithsecuritiesng.com

How much do you need to invest in Nigeria's stock market?
It is not that much as even if you have aout N25,000($160), you could start investing in the market and see your investment grow over time.

Other options for investing in Nigeria
There are equally other several ways in which you can invest in the Nigerian stock market as well as any other sector such as building your own house in Nigeria even while living abroad. It is what is called NIDA (Nigerians In Diaspora Account) and it is offered by most Nigerian banks. It allows Nigerian investors abroad to do business in Nigeria even while away.
For example, Intercontinental bank of Nigeria offers I- Diaspora Investment Account. This account allows citizens in diaspora to invest in the stock market at home while they are away and the minimum deposit for this account is about $5000 and you wll need to send copies of your passport and other details. You could do the entire application online. If you want to invest in a home or mortgage, you can also use the I-mortgage account.
There are also other banks that offer products that will easily suit your investment option in Nigeria and you can check their websites

Comments:
Re: How Nigerians abroad can invest in the Capital market Posted by on Tuesday May 17, 2011 at 13:22:43:

thanks a lot. that was highly educative

Re: How Nigerians abroad can invest in the Capital market Posted by Felix Okoli on Tuesday May 17, 2011 at 13:22:43:

Well you are welcome