Oderinde: It is the statutory function of Central Securities Clearing System ( CSCS) to alert Nigerian shareholders whenever his or her stockbroker is trading on their stockbroking account with or without their consents. When CSCS started, every capital market stakeholder was commending them for this superb initiative that will check fraud and unauthorised trading on client’s account by fraudulent stockbrokers.

Presently, in the last few months, the Nigerian factor has stepped in; staff of CSCS are collaborating with stockbrokers to dupe unsuspecting investors in one way or the other. One of the principal ways they are doing it is by not alerting investors through SMS messages whenever there is transaction on their stockbroking accounts.  Sir, we want you to help Nigerian investors to investigate and publish this story for a rethink by the management of CSCS Nigeria Ltd to start sending SMS to any Investor whose stockbroker is trading on his or her account. In addition, SEC as the capital market apex regulatory body should act on this, given that our market has just recovered from 2008 collapse. ( Oderinde Taiwo is the National Coordinator of Proactive Shareholders Association of  Nigeria, PROSAN)

Our findings
Investors Forum contacted CSCS on the issue of sending SMS to shareholders whenever there is a transaction on their account. Below is the summary of our findings:

*It is not the statutory function of CSCS to alert shareholders whenever his/her stockboker is trading on his/her stockbroking account with or without their consent.

*The Trade-Alert is a laudable initiative which has brought transparency to the system. However, the success of the SMS alert system depends on a few critical (absolutely necessary) things, which include; the investor must provide an active/valid GSM number to their broker, the investor must watch-out for an alert when they buy or sell shares.

*If an investor sells or buys shares on NSE and has not received an alert, it may mean that either they may not have provided their number, or they provided a wrong number, or their boker may have not provided CSCS with the correct number, or have not updated CSCS with the number.

*If an investor is not receiving alerts – what do they do to start receiving alerts? They should write a letter to their broker(s) to update their details on their account with CSCS. They may copy CSCS the letter they send to their broker. CSCS will still reach out to the investor’s broker to verify. However, the request must come from the broker since the Know-Your-Customer (KYC) mandate rests with brokers when it comes to opening and maintaining CSCS account of a shareholder.

*Shareholders are advised to periodically request for their account details from their broker to ensure the accuracy of the information they might have provided when they  first opened the account. Keeping your details up to date is not only a good housekeeping, but also help in safeguarding your investments. If there is any incorrect information, write your stockbroker to correct the information.

COMPLAINTS AND INVESTIGATIONS

Investigate Aims Asset &  BGL
I invested in Aims Asset manager’s shares and BGL mutual funds in 2009 and 2011 respectively, and I have not been able to reach them since then. Please help me investigate them.

Investors Forum
We advise that you contact the companies directly. The contact of Aims Asset Management is  23, Ajao Road, Off Adeniyi Jones, Ikeja. Tel: 2347029523916, 8095988382; Email: aims@aimsassetmgt.com. The contact of  BGL Asset Management Limited is Plot 1061, Abagbon Close, Off Ologun Agbaje Street, P.O. Box 74122 Victoria Island, Lagos, Nigeria. Tel:  270 3902, 270 7096, 2798856.  Email: bglassetmgt@bglgroupng.com

I need update on investment in ABC Transport.

Please kindly help me find out about my investment in ABC Transport Company.

Investors Forum
Please contact First Registrars, at Plot 2 Abebe Village Road, Iganmu or call 08033018295, 08191410456.

Is First Registrar in Aba
Sir, I want to know if First Registrar has any office in Aba, Abia State.

Investors Forum
The company does not have an office in Aba. You can reach the company’s head office at Plot 2 Abebe Village Road, Iganmu or call 08033018295, 08191410456

Aims Asset Mgt in Abuja
How can I locate AIMS ASSET MGT LTD in Abuja or a phone number I can use to call them? (Dafe)

Investors Forum
The company does not appear to have an office in Abuja. You can contact its head office at 23, Ajao Road, Off Adeniyi Jones, Ikeja, Lagos.  Tel: 2347029523916, 8095988382; Email:aims@aimsassetmgt.com

No share certificates from my companies
I bought several shares from several companies in the late 80’s and early 90’s which I am yet to receive any dividend from them, most especially FSB bank. My address use to be at Marokoo in V.I, which was later demolished, since then I lost contact with these companies. I will be most grateful if you can help me locate them. (Mrs. Florence Uwhubetine)

Investors Forum
You should have indicated the name of the companies. In the case of FSB Internal Bank, the bank merged with Fidelity Bank. To confirm the status of your shareholding in Fidelity contact First Registrars,  Plot 2 Abebe Village Road, Iganmu or call  08033018295, 08191410456

No dividend from Ecobank, others
Please I have shares in Ecobank, Sterling Bank and Finbank, but I have not been able to get my dividend since I bought them in 2007, help me find out why. Ekene Gideon

Investors Forum
For your investment in Ecobank, contact ESL Registrars Ltd,
16/A Rauf Taylor Close, Off Idego Street, Victoria  Island, Lagos  or call an official of the bank on 08023877699. For Sterling Bank contact Sterling Registrars Limited,
Knight Frank Building (8th Floor) 24 Campbell Street, Lagos. Tel: 01-2635607. For Finbank contact City Securities, Primrose Tower, 2nd Floor, 17A Tinubu Street, Lagos. Tel: 01-2641298, 01-7924462

I need Okomu Oil registrar
Please help me with the name and address of  Okomu Oil Registrars name.

Investors Forum
The registrar is City Securities and its contact is Primrose Tower, 2nd Floor, 17A Tinubu Street, Lagos. Tel: 01-2641298, 7924462.

I need UTC registrars
Please I need UTC Registrars address. I have not received dividend or update on my investment for over 10 years. (Mrs. OSAKWE M N)

Investors Forum
Contact Africa Prudential Registrars Plc at 220B, Ikorodu Road, Palmgrove, Lagos. You can call 01-8401153, 01-8931501, and 01-4606460 or send message to info@africaprudentialregistrars.com.

I want to recover Unclaim dividend in AP, BCC
How do I recover unclaimed dividend in AP / BCC. I have shares in AP / Benue state since l990.  After I returned in 2000 till date; I have not received any dividend.(Ejike)

Investors Forum
African Petroleum (AP) is now Forte Oil, while Benue Cement Company (BCC) was merged with Dangote Cement
To recover your dividend in AP, contact Zenith Registrars Limited at Plot 89 Ajose Adeogun Street, Victoria Island Extension, Lagos.  Tel: 234-1-2708930-4. For Dangote Cement contact Afribank Registrars Limited Address: 2A Gbagada Expressway, Anthony Village, Lagos. Tel: 01 2691867, 2692094, 7735963.