Free Employer Guide
The Complete Employee Share Plan Guide for Nigerian Companies
A practical, plain-English guide for HR directors, company secretaries, and finance teams at NGX-listed companies. Covers every step from scheme design to first allotment — including all SEC, CSCS, NGX, and FIRS requirements.
What This Guide Covers
Six comprehensive sections covering every aspect of employee share scheme design and administration for Nigerian listed companies.
Part 1: Choosing the Right Scheme Type
- Comparison of ESIS, ESPP, PSP, RSU, and ESOP structures
- Which scheme types are eligible under SEC Rules for Nigerian listed companies
- Tax treatment under FIRS rules for each structure
- What vesting schedules are most common in Nigerian schemes
- How to align scheme type with your retention and recruitment objectives
Part 2: Legal Framework & Regulatory Compliance
- CAMA 2020 requirements for share allotments to employees
- SEC Nigeria notification requirements for Share Purchase Plans
- NGX disclosure obligations when shares are issued under a scheme
- How to structure the trustee relationship and trust deed
- Preparing the scheme rules document for board and shareholder approval
Part 3: Registering Participants at CSCS
- Step-by-step CSCS CHN registration for bulk employee enrolment
- What KYC and identity documents are required (NIN, BVN)
- How to handle employees without existing bank accounts
- Managing CSCS registration for remote or distributed workforces
- Common errors in bulk CSCS registration and how to avoid them
Part 4: Payroll Integration & Funding
- Setting up payroll deduction for employee share purchase contributions
- How employer matching contributions are structured and accounted for
- Reconciling monthly payroll data with the share plan register
- Handling mid-year joiners and leavers in payroll reconciliation
- Foreign-currency payroll considerations for international employees
Part 5: Dividend Payments & Corporate Actions
- How dividends are distributed to employee scheme participants
- Withholding tax obligations on dividend income for employees
- Processing bonus share issues and rights offers for scheme participants
- What happens to employee shares during a merger or acquisition
- How share splits and consolidations are handled in the scheme register
Part 6: Leaver Provisions & Share Transfers
- Good leaver vs bad leaver — best practices for Nigerian companies
- How vesting acceleration on change of control is documented
- Transfer of shares to a departing employee's personal CSCS account
- Clawback provisions: legal enforceability under Nigerian law
- Handling probate and bereavement claims on employee share holdings
Who This Guide Is For
Company Secretary
Managing allotments, board resolutions, and regulatory filings
HR Director
Designing the scheme structure, eligibility, and communications plan
CFO / Finance Director
Accounting treatment, payroll reconciliation, and tax reporting
Board Director
Understanding what shareholder authority and legal obligations are required
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