Complete Investment Guide
How to Invest in the Nigerian Stock Exchange
Everything you need to know about investing in the Nigerian Exchange Group (NGX) — from the requirements and account setup to buying your first shares and understanding how settlement works.
What Is the Nigerian Stock Exchange?
The Nigerian Exchange Group (NGX) — formerly known as the Nigerian Stock Exchange (NSE) — is Nigeria's main stock exchange. It is headquartered in Lagos and lists over 150 companies across banking, oil and gas, consumer goods, telecommunications, manufacturing, agriculture, and real estate.
The NGX is regulated by the Securities and Exchange Commission (SEC) Nigeria and operates under rules set by the Investments and Securities Act. All trades execute through a system of SEC-registered stockbrokers and settle through the Central Securities Clearing System (CSCS) — the central depository that records legal share ownership.
When you invest in the NGX, you are buying fractional ownership in real Nigerian businesses. As a shareholder, you are entitled to receive dividends, attend annual general meetings, and vote on company decisions — provided your shares are registered in your own name through CSCS.
What You Need to Invest in the NGX
Four things are required before you can buy shares on the Nigerian Stock Exchange.
BVN (Bank Verification Number)
Your BVN is the foundation of identity verification for all Nigerian financial services. It is issued by your bank and required for KYC compliance before you can invest.
Nigerian Bank Account
A Nigerian bank account is required to fund your investments and receive dividend payments directly. Any tier-1 or tier-2 Nigerian bank account is accepted.
CSCS Account
The Central Securities Clearing System (CSCS) account holds your shares in your legal name. It is Nigeria's equivalent of a share depository account. Shares Saver opens one on your behalf.
SEC-Regulated Broker or Platform
All trades on the NGX must be placed through a SEC-registered stockbroker. Shares Saver works with regulated broker partners to execute trades on your behalf — no need to find your own broker.
How to Invest in the Nigerian Stock Exchange: Step by Step
From opening your account to holding registered NGX shares.
- 1
Open a free Shares Saver account
Register online or via the mobile app. Provide your name, email, and phone number. The account is free to open.
- 2
Verify your identity
Submit your BVN and a government-issued ID. Shares Saver completes KYC verification in line with SEC and CBN requirements. A CSCS account is created in your name as part of this step.
- 3
Choose an NGX-listed company
Browse companies available on the Shares Saver platform. Filter by sector or company name, view share price history, and select the stock you want to own.
- 4
Save towards your target purchase amount
Set a monthly savings plan. Fund your account from your Nigerian bank account. Shares Saver tracks your savings progress toward the purchase amount for your chosen stock.
- 5
Shares are purchased and settle in your name
When your savings reach the target, Shares Saver instructs its SEC-regulated broker partner to place the order on the NGX. The trade settles on T+1, one business day after the trade, and the shares are registered in your CSCS account.
Investing from abroad?
Nigerian diaspora investors can also invest in the NGX
If you live in the UK, USA, Canada, Europe, or elsewhere, you can still invest in the Nigerian Stock Exchange through Shares Saver — provided you have a BVN and a Nigerian bank account.
Start Investing in the Nigerian Stock Exchange
Open a free Shares Saver account and buy NGX-listed shares registered in your own name.
Questions About Investing in the NGX
What is the Nigerian Stock Exchange?
The Nigerian Exchange Group (NGX) — formerly the Nigerian Stock Exchange (NSE) — is Nigeria's main stock exchange. It lists over 150 companies and is regulated by the Securities and Exchange Commission (SEC) Nigeria.
What do I need to invest in the Nigerian Stock Exchange?
You need a BVN, a Nigerian bank account, a CSCS account, and an account with a SEC-regulated platform. Shares Saver handles the CSCS account creation and broker relationship on your behalf.
Is the Nigerian Stock Exchange regulated?
Yes. The NGX is regulated by the Securities and Exchange Commission (SEC) Nigeria. All stockbrokers trading on the NGX must be SEC-registered. Shares Saver works exclusively with SEC-regulated broker partners.
How long does it take for shares to settle?
The NGX operates on a T+1 settlement cycle — shares are registered in your CSCS account one business day after the trade date.
What is the minimum investment on the Nigerian Stock Exchange?
There is no fixed minimum. The amount depends on the current share price of the company you want to buy. Shares Saver is designed for regular savers, so you can build up your savings each month and buy when you reach the target.
Can I invest from outside Nigeria?
Yes. Nigerian citizens living abroad can invest in the NGX through Shares Saver, provided they have a BVN and a Nigerian bank account. We support diaspora investors from the UK, USA, Canada, Europe, and many other countries.
Begin Your Nigerian Stock Exchange Journey
Open a free Shares Saver account and start investing in the NGX — with every share registered directly in your own name.