Trust & Transparency
Shares Saver operates within the Nigerian capital markets regulatory framework. All share purchases are executed by SEC-licensed stockbroker partners. Shares are cleared through CSCS and traded on the Nigerian Exchange.
Apex capital markets regulator
The SEC is the apex regulatory body for Nigeria's capital markets. It licenses stockbrokers, investment advisers, registrars, and other market operators. All stockbroker partners used by Shares Saver hold SEC licences. The SEC's mandate includes investor protection, market integrity, and market development.
Relevance to Shares Saver investors: All broker partners used by Shares Saver are SEC-licensed dealing members.
Market operator and dealing member regulator
The Nigerian Exchange is a licensed exchange that operates the market where NGX-listed shares are bought and sold. The NGX regulates its dealing members — the stockbrokers who execute trades — and enforces conduct rules. Companies listed on the NGX must meet ongoing disclosure and governance requirements.
Relevance to Shares Saver investors: All share trades executed on behalf of Shares Saver investors are transacted on the NGX through licensed dealing members.
Central depository and clearing house
CSCS is the licensed central depository for all Nigerian capital market securities. It maintains the electronic records of every NGX shareholding. CSCS clears and settles all NGX trades under its T+2 settlement cycle. Your share ownership is recorded here in your legal name under your CHN.
Relevance to Shares Saver investors: Your shares are registered in your CSCS account in your own name — independently of Shares Saver.
Your share purchases are executed by brokers who are licensed and supervised by the SEC and NGX. They are subject to conduct rules, capital requirements, and ongoing regulatory oversight.
Your shares are held at CSCS — a regulated, independent depository — in your own name. This means your ownership record is not dependent on Shares Saver remaining operational.
The NGX runs market surveillance to detect and prevent manipulative or fraudulent trading. All trades executed by Shares Saver broker partners are subject to NGX market conduct rules.
Shares Saver works exclusively with stockbroker partners licensed by the Securities and Exchange Commission (SEC) of Nigeria. All share purchases are executed by these regulated broker partners, not by Shares Saver directly.
The Securities and Exchange Commission (SEC) is Nigeria's apex capital market regulator. It licenses and supervises market operators including stockbrokers, registrars, investment advisers, and exchanges. The SEC sets rules designed to protect investors and ensure market integrity.
The Nigerian Exchange (NGX) is the market operator where shares are listed and traded. It regulates the conduct of its dealing members (stockbrokers), enforces listing rules for companies, and maintains market surveillance to ensure fair trading.
CSCS (Central Securities Clearing System) is the central depository and clearing house for all NGX securities. It maintains the definitive electronic records of share ownership for every investor. Because your shares are registered at CSCS level in your name, your ownership exists independently of any platform.
Shares Saver uses only SEC-licensed broker partners. Your shares registered in your name through the CSCS.