CSCS Number vs CHN vs Broker Account Number Explained
Nigerian shareholders can end up with five different reference numbers. This guide sets them side by side: what each one identifies, who issues it and which institution asks for which.
The CHN identifies you as an investor in the Central Securities Clearing System (CSCS). The CSCS account number identifies one account under that CHN, tied to one stockbroker. The broker or trading account number is the broker's own reference for you and means nothing outside that firm. Older holdings add two more: the registrar account number and the shareholder or certificate number printed on paper certificates.
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The Five Numbers Side by Side
- CHN (Clearing House Number): issued by the CSCS. Identifies the investor. One per investor, however many brokers are used. Found on CSCS statements, contract notes and broker profile pages.
- CSCS account number: issued by the CSCS. Identifies one account under the CHN, linked to the broker that opened it. One per broker relationship. Found on CSCS statements next to the broker's name.
- Broker or trading account number: issued by the stockbroker. Identifies you in the broker's own systems for funding, orders and statements. One per broker. Found on the broker's app, emails and contract notes.
- Registrar account number: issued by a company's registrar. Identifies your entry in the register that registrar keeps. One per registrar, sometimes one per company. Found on dividend advices and registrar letters.
- Shareholder or certificate number: printed on a paper share certificate. Identifies that certificate, and often the holder's folio in the register at the time it was issued. One per certificate. Found on the certificate itself.
How the Numbers Fit Together
Think of three layers. At the depository layer, the CSCS holds your shares electronically: the CHN is you, and each CSCS account under it is a drawer labelled with a broker's name. At the broker layer, the firm gives you its own customer number so that it can take your money, place your orders and send your contract notes. At the company layer, each listed company has a registrar that keeps its register of members and pays its dividends, and the registrar has its own reference for each holder.
When you buy shares through a broker, the units settle into the CSCS account linked to that broker, under your CHN. The CSCS passes holder information to the registrar, which is how your name reaches the company's register and how dividends find you. Paper certificates belong to the period before this electronic chain existed, and their numbers refer back to the registrar's older records.
Which Number Each Institution Asks For
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- A stockbroker opening a new account for you: your existing CHN, if you have one, so that the new account is attached to it.
- Your broker when you fund the account or place an order: the broker account number, or simply your login.
- A broker processing a transfer of shares from another broker: your CHN, plus the CSCS account numbers and broker names on both sides.
- The CSCS for its investor portal or trade alerts: your CHN, with identity verification.
- A registrar handling an e-dividend mandate: your name, bank details and BVN, together with your CHN and, where you have it, the registrar account number.
- A registrar dealing with an old or certificated holding: the registrar account number or the certificate number, since there may be no CHN attached to that holding yet.
- A broker lodging a certificate for dematerialisation: the certificate itself and the CHN and CSCS account the shares are to go into.
If a form simply says "account number", check who issued the form before filling it in. On a broker's form it usually means the broker account number; on a registrar's form it usually means the registrar account number; on a CSCS form it means the CSCS account number, with the CHN asked for separately.
Common Mix-Ups
Treating the CHN and the CSCS account number as one number
In conversation the two are often used interchangeably, and for an investor with a single broker the difference rarely matters. It starts to matter with a second broker. The CHN stays the same; the CSCS account number does not. An instruction to sell must go to the broker whose CSCS account holds the shares.
Giving a broker reference to a registrar
A registrar cannot look anything up from a broker's customer number. Quote the CHN or the registrar account number, and your full name as it appears on the register.
Assuming a certificate number proves a current holding
A certificate shows what was issued on a particular date. Bonus issues, rights taken up, share reconstructions and any earlier dematerialisation can all mean the present holding differs from the figure printed on the paper. The registrar's record is the one that settles it.
Expecting one registrar number to cover every company
Different companies appoint different registrars, and each registrar keeps its own references. A shareholder of five companies served by three registrars may have three or more registrar account numbers, and still only one CHN.
Using the BVN as an investor number
The BVN verifies who you are and ties your bank details to your identity. It is requested on many capital market forms, but it is a banking identifier, not a record of shares.
A Simple Record to Keep
One page is enough: your CHN; each broker you have used with its CSCS account number and its own customer number; each company you hold with the name of its registrar and any registrar account number; and the certificate numbers of any paper certificates you still have. Add the phone number and email address held on the CSCS record. It is the single most useful document for you, and for your family if they ever need to trace what you own.
Frequently Asked Questions
Is the CSCS number the same as the CHN?
People use "CSCS number" for both, which is where the confusion starts. Strictly, the CHN identifies the investor and the CSCS account number identifies one broker-linked account under that CHN. If someone asks for your CSCS number, ask whether they need the CHN, the account number, or both.
Which number do I need to sell my shares?
You need an account with the broker whose CSCS account holds the shares; the broker already has the numbers. If the shares sit with a broker you no longer use, your CHN and that CSCS account number are what a new broker needs to request a transfer.
Which number do I quote when chasing a dividend?
Dividends are paid by the company's registrar, so quote your name as registered, your CHN and the registrar account number if you know it. The broker account number will not help the registrar.
My statement shows two CSCS account numbers. Is that a problem?
Two account numbers under one CHN simply means you have used two brokers. Two different CHNs is the situation that calls for action, because it means the CSCS is treating you as two investors; a broker can request a merger of the records.
Do shares held through an app have a CHN?
It depends on how the app holds them. Where shares are registered in your own name, there is a CHN in your name and you can ask for it. Where a nominee holds the shares, the CHN belongs to the nominee and your record is the platform's internal ledger. Shares Saver works with Crown Capital Limited, an NGX trading licence holder, and shares are registered in the investor's own name in the CSCS.
Important disclaimer. This article is for general information and educational purposes only. It does not constitute financial advice, investment advice, or any recommendation to buy, sell, or hold any security. The value of investments can fall as well as rise. You should seek independent regulated financial advice before making any investment decision. Shares Saver does not provide financial advice.
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