For NSE-Listed Companies

Choosing the Right Employee Share Scheme Provider in Nigeria

Not all share scheme providers are the same. The right provider ensures each employee is a direct, named shareholder — with full transparency, regulatory compliance, and a clear audit trail for your board.

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6 Things to Look for in a Share Scheme Provider

Direct share registration

Shares must be registered in each employee's own name — not held in a pooled or nominee structure. Direct registration means each employee is a real shareholder.

Shares Saver: Every allotted share is registered in the employee's own name through CSCS.

Regulatory compliance

The provider must operate within the CAMA 2020 and SEC Nigeria framework for employee share schemes, with clear documentation for board and shareholder reporting.

Shares Saver: Shares Saver works within the Nigerian regulatory framework and provides the documentation your board and company secretary need.

Transparency for employees

Employees should be able to see exactly how many shares they hold, what those shares are worth, and access proof of ownership.

Shares Saver: Employees access a clear dashboard showing their shareholding, valuation, and ownership documents.

Dividend administration

The provider should support the process of ensuring declared dividends reach each employee accurately and on time.

Shares Saver: Shares Saver supports e-dividend registration so dividends flow directly to each employee's bank account.

Leaver handling

A scheme must have clear, documented processes for what happens to vested and unvested shares when an employee leaves.

Shares Saver: Shares Saver manages all leaver scenarios in line with your scheme rules, with a clear audit trail.

Reporting and audit trail

The provider should give the company complete, auditable records of allotments, registrations, and any scheme changes.

Shares Saver: Full compliance reporting and audit documentation is provided to the company for board reporting and regulatory purposes.

Pooled Nominee Schemes vs Direct Registration

The structure your provider uses determines whether employees are real shareholders or just account holders.

Pooled / Nominee Scheme

✕Shares held collectively — employees see a balance, not a shareholding
✕Employee's name does not appear in the CSCS register
✕Dividends may be pooled and redistributed rather than paid as a direct shareholder
✕Employee has no direct voting rights at AGM
✕Risk concentration if the pooled holder has operational issues

Direct Registration (Shares Saver)

✓Each employee's shares registered in their own name through CSCS
✓Employee appears directly in the company's shareholder register
✓Dividends paid directly to each employee's bank account
✓Each employee has direct voting rights at AGM
✓No single-point-of-failure risk — each holding is individual

Learn more about direct share ownership →

Provider Questions

What does an employee share scheme provider do in Nigeria?

An employee share scheme provider manages the operational and administrative complexity of running a share scheme on behalf of the listed company. This includes processing share allotments, registering shares in employees' names through CSCS, administering dividends, managing leaver scenarios, and providing compliance reporting to the board and regulators.

What is the difference between a share scheme provider and a stockbroker?

A stockbroker executes share trades on the Nigerian Exchange. A share scheme provider like Shares Saver manages the ongoing administration of the company's employee share scheme — allotments, registrations, reporting, and employee access. Shares Saver works alongside regulated stockbrokers to handle any share transactions required by the scheme.

Does Shares Saver register shares directly in each employee's name?

Yes. Shares Saver registers each employee's allocated shares directly in their own name through the Central Securities Clearing System (CSCS). This is direct ownership — not a pooled or nominee structure. Each employee becomes a named, registered shareholder of your company.

Is Shares Saver regulated in Nigeria?

Shares Saver operates within the Nigerian regulatory framework for investment and share administration, working with SEC-regulated stockbrokers for all trade execution. For specific regulatory enquiries about your company's scheme, we recommend discussing with your company secretary and legal advisers.

Can Shares Saver handle schemes for large listed companies?

Yes. Shares Saver's platform is designed to administer schemes with multiple employee participants, multiple allotment rounds, and complex vesting and leaver scenarios. Contact us to discuss the scale of your scheme.

How do we get started with Shares Saver as our employee share scheme provider?

Contact us via the Shares Saver contact page and describe your company, the nature of the scheme you want to run, and the number of participating employees. We will arrange a call to understand your requirements and provide a proposal.

Ready to Talk to Shares Saver?

Tell us about your company and the employee share scheme you want to run. We will explain how we can manage it for you.