A practical walkthrough for first-time investors looking to buy Nigerian stocks on the NSE — from opening an account to receiving your first shareholding.
Buying shares in Nigeria is more accessible today than it has ever been. Thanks to investment apps and online platforms, you no longer need to visit a stockbroker's office in person to invest in Nigerian Exchange Group (NGX) listed companies. Here is a practical, step-by-step guide to buying your first Nigerian shares.
You need an account with a platform that can facilitate share purchases on the NGX. Options include traditional stockbroking firms, online brokers, and investment apps like Shares Saver. When choosing, consider:
Register on your chosen platform and complete the required identity verification (KYC — Know Your Customer). This typically involves uploading a photo ID and confirming your BVN. Verification is required by Nigerian financial regulations and usually takes between 24 hours and 3 business days.
Browse the available companies listed on the Nigerian Exchange Group (NGX). Consider factors like the company's financial history, dividend record, sector, and how the investment fits your goals. For long-term investors, established Nigerian companies with a consistent dividend history are often a starting point.
Buying shares is a long-term commitment. Think about how many years you plan to hold the investment and what regular contribution you can realistically sustain.
Transfer funds from your bank account to the investment platform. Some platforms, including Shares Saver, use a savings plan model: you contribute a regular monthly amount, and shares are purchased once you reach a target threshold.
Once your account is funded and your savings plan is active, the platform will instruct a regulated stockbroker to execute the purchase on the NGX at the current market price. The trade is subject to exchange rules and settles on the standard NGX settlement cycle.
After settlement, your shares should be registered. If you use a platform like Shares Saver, they are registered directly in your own name. You receive ownership documentation, and your name appears on the share register for that company.
Monitor your portfolio via the app or platform, track dividend payments, and review your regular contribution amounts periodically. Long-term investors typically review their portfolio once or twice per year rather than reacting to daily price movements.
Start buying Nigerian stocks directly in your name with the Shares Saver investment app.
See How Shares Saver Works