Direct CSCS Registration
Every employee's shares are registered directly in their own name on the CSCS — not in a pooled nominee account. This is the gold standard for employee ownership in Nigeria.
For NGX-Listed Companies
Shares Saver provides full-suite administration of employee share investment schemes (ESIS) for companies listed on the Nigerian Exchange Group (NGX). From trust management and CSCS registration through to SEC compliance reporting and employee dashboards — we manage the entire lifecycle of your plan.
An employee share plan — formally referred to as an Employee Share Investment Scheme (ESIS) by the Securities and Exchange Commission (SEC) Nigeria — is a structured corporate arrangement through which a Nigerian listed company enables its employees to acquire shares in the company. Plans can operate through direct allotment, payroll deduction purchasing, or performance-linked awards.
Employee share plans are governed in Nigeria by the Companies and Allied Matters Act (CAMA) 2020, SEC Nigeria rules on employee share schemes, the Investment and Securities Act (ISA), and the listing rules of the Nigerian Exchange Group (NGX). Companies must obtain board approval and, in many cases, shareholder consent before a plan can be launched.
The most widely adopted model in Nigeria for listed companies involves an independent trust structure — a trust holds shares on behalf of employees until they vest, at which point shares are transferred directly into each employee's CSCS account in their own name. This is the structure Shares Saver is designed to administer.
Shares Saver works with your legal counsel, company secretary, and HR team to implement your scheme within the applicable regulatory framework — then manages the entire ongoing administration so your internal team does not have to.
Every employee's shares are registered directly in their own name on the CSCS — not in a pooled nominee account. This is the gold standard for employee ownership in Nigeria.
Our administration process is built around CAMA 2020, SEC Nigeria rules, and NGX listing obligations. We keep your scheme compliant without burdening your internal team.
Vesting events, cliff dates, and leaver scenarios are managed automatically according to your scheme rules. No manual tracking spreadsheets required.
Each employee gets their own Shares Saver portal showing their shareholding, vesting schedule, dividend history, and full ownership documentation.
We produce reporting aligned with SEC Nigeria regulatory requirements, NGX disclosure obligations, and FIRS employer reporting on employee share benefits.
Whether you have 50 or 5,000 participating employees, Shares Saver's platform scales to match — with no additional administrative burden on your HR or company secretarial team.
Everything your company needs to run a compliant, well-administered employee share investment scheme — managed by Shares Saver.
Independent trust structure administration compliant with CAMA 2020 and SEC Nigeria rules. Trustee coordination, trust deed compliance, and beneficiary management.
Automated tracking of vesting schedules across all employees. Cliff vesting, graded vesting, and performance-based vesting conditions all supported.
Regulatory reporting to SEC Nigeria and NGX as required. Board-ready reports, allotment schedules, and CSCS reconciliation statements.
Each employee gets their own dashboard showing their shareholding, vesting schedule, dividend history, and ownership documentation.
Monthly payroll deduction coordination with your payroll team. Automated deduction instructions, share purchase processing, and CSCS registration.
End-to-end share allotment processing including board instruction handling, CSCS registration, employee notification, and certificate issuance where applicable.
Running an employee share plan in Nigeria involves navigating multiple regulatory bodies and legal frameworks simultaneously. Shares Saver administers your scheme within all applicable frameworks so you maintain compliance without complexity.
Our team stays current with SEC Nigeria rule updates, NGX listing rule changes, FIRS guidance on employee share benefits, and CAMA 2020 implementation. We advise your company secretary when regulatory changes affect your scheme.
CAMA 2020
Financial assistance rules, independent trust structures, shareholder approval requirements for employee schemes
SEC Nigeria (Investment & Securities Act)
Employee Share Investment Scheme (ESIS) notification, scheme registration, and ongoing disclosure obligations
NGX Listing Rules
Transparency and disclosure obligations for listed company employee allotment schemes
CSCS Registration
Central Securities Clearing System direct registration of each employee's shares in their own name
FIRS Employer Reporting
Employee share benefit reporting, PAYE obligations at allotment, and dividend withholding tax coordination
We work with your legal and company secretary team to finalise the scheme rules, prepare the board resolution, and — where required — the shareholder resolution under CAMA 2020.
Where your scheme uses an independent trust (recommended for CAMA 2020 compliance), we coordinate trust deed preparation and SEC Nigeria notification of the scheme.
We help you define employee eligibility criteria, prepare employee communication materials, and manage the onboarding of employees to the Shares Saver platform.
All allotted or purchased shares are registered through the Central Securities Clearing System (CSCS) directly in each employee's own legal name. Each employee is a named, registered shareholder.
Shares Saver administers the scheme on an ongoing basis: processing monthly deductions or allotments, managing vesting events, handling leavers, and administering dividend entitlements.
We produce monthly and annual reports for your board, company secretary, and regulatory filings. All records are maintained in line with SEC Nigeria, FIRS, and NGX requirements.
Both your company and each participating employee get clear, real-time visibility into the scheme.
Public companies listed on the Nigerian Exchange Group seeking to launch, modernise, or re-administer their employee share investment scheme.
Heads of HR and reward designing a meaningful equity benefit that drives retention and aligns employees with long-term shareholder value.
Corporate secretaries responsible for shareholder register accuracy, allotment processing, CAMA compliance, and SEC regulatory filings related to employee schemes.
Finance leaders needing accurate, audit-ready reporting on employee share plan costs, dilution impact, and FIRS tax implications.
Every sector has unique compliance, vesting, and communication requirements. Explore our sector-specific guides.
Download our practical guides for HR directors, company secretaries, and finance teams — covering every step of ESIS design, launch, and administration.
An employee share plan (also called an employee share investment scheme or ESIS) is a formal corporate arrangement through which a listed Nigerian company enables its employees to acquire or receive shares in the company. Plans are typically used to reward performance, retain key talent, and align employees with the long-term interests of shareholders. They are governed by CAMA 2020, SEC Nigeria rules, and NGX listing obligations.
The terms are used interchangeably in Nigeria. "Employee share plan" and "employee share scheme" both refer to the same type of arrangement. The formal regulatory term used by the Securities and Exchange Commission (SEC) Nigeria is "Employee Share Investment Scheme" (ESIS). Shares Saver uses all three terms depending on context.
Any company listed on the Nigerian Exchange Group (NGX) can operate an employee share plan, subject to board approval and — where required by CAMA 2020 — shareholder consent. Private companies may also run share plans, though the regulatory framework for ESIS primarily targets public listed companies. Contact Shares Saver for guidance specific to your company's structure.
Yes. The Companies and Allied Matters Act (CAMA) 2020 introduced provisions relevant to employee share plans, including rules on the acquisition of a company's own shares for employee scheme purposes, requirements for board resolutions and shareholder approval, and rules on independent trust structures. Shares Saver administers plans in compliance with these requirements.
In a payroll deduction scheme, a fixed amount is deducted from each participating employee's salary each month and used to purchase company shares on their behalf. Shares Saver coordinates the monthly deduction instructions with your payroll team, processes the share purchase or allotment, and registers each employee's acquired shares through the CSCS in their own name.
Shares Saver provides end-to-end administration: we process allotment or purchase instructions, arrange CSCS registration of shares in each employee's own name, manage employee onboarding to their dashboard, administer dividends, handle leaver scenarios in line with your scheme rules, and produce compliance and board reporting. You focus on the scheme design and employee communication — we handle the operational complexity.
Yes. Unlike pooled or nominee structures, Shares Saver registers each employee's shares directly in their own legal name through the Central Securities Clearing System (CSCS). Each employee becomes a named, registered shareholder — entitled to dividends, able to vote at AGMs, and with full documentation of their ownership.
A vesting schedule defines the conditions under which an employee's allocated shares become fully theirs. For example, shares may vest over three years, with one third becoming the employee's property each year of continued employment. Vesting schedules are a common feature of performance share plans and ESOPs. Shares Saver can administer vesting schedules and automate leaver handling based on your scheme's vesting rules.
Timeline depends on the complexity of your scheme design, the number of participating employees, and the time required for your internal approvals (board resolution, shareholder consent where required). Contact Shares Saver to discuss your specific setup requirements and receive a project timeline.
Yes. Once shares are vested and registered in an employee's name on the CSCS, the employee owns them outright. They may sell through a stockbroker in the normal way, subject to any lock-up periods or transfer restrictions specified in your scheme rules. Shares Saver can advise on structuring your scheme rules to include appropriate lock-up provisions.
Speak to Shares Saver about designing, launching, and administering an employee share plan for your NGX-listed company.