In Nigeria, shares are registered electronically. When you buy shares, the process of recording them in your name involves two layers: the central depository (CSCS) and the company's own shareholder register maintained by a registrar.
Definition
Share registration in Nigeria is the process by which purchased shares are recorded in an investor's legal name in both the CSCS depository and the company's shareholder register, maintained by a registered company registrar.
First, your shares are held at the CSCS level — the central depository that electronically records all NGX shareholdings. Second, the company's registrar (a firm like Cardinalstone Registrars or DataMax Registrars) maintains the official list of the company's shareholders. Both records carry your name.
Each NGX-listed company appoints a registrar — a regulated firm that manages its shareholder records. The registrar handles dividend payments, shareholder communications (including AGM notices), and rights issue administration on behalf of the company.
Some investment platforms hold shares in a nominee or pooled account in their own name, not yours. Shares Saver uses direct registration: your shares are registered in your legal name both at CSCS and in the company's shareholder register. This gives you direct shareholder rights.
If shares are in a nominee account, you depend on the platform remaining operational to access them. With direct registration, your ownership exists independently of Shares Saver. Even if the platform were to cease operations, your shareholding record remains intact at CSCS and with the company registrar.
You can verify your holdings through your CSCS account. You can also contact the company's registrar directly using your CHN number. Shares Saver also shows your registered portfolio in the app.
Yes. Because shares are registered in your name at CSCS level, they can be transferred to another broker without losing your ownership record. Your CHN and CSCS account travel with you.
A registrar is a firm regulated by the SEC that manages a company's shareholder register. They handle dividend payments, send AGM notices, and process corporate actions. Common Nigerian registrars include Cardinalstone Registrars, DataMax, and Africa Prudential.
Shares Saver lets you buy and own NGX-listed shares directly in your own name through regulated broker execution.
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