Investing in shares has long been one of the smartest ways to build wealth and secure financial stability. In Nigeria, buying shares gives you part-ownership in a company and the opportunity to earn from dividends and capital appreciation as the company grows.
If you’ve been thinking about venturing into the Nigerian stock market but don’t know how to get started, this straightforward guide will walk you through everything you need to know in 2025.
What Are Shares?
Shares, also known as stocks or equities, represent a unit of ownership in a company. When you buy shares in a company, you become a shareholder and may be entitled to a portion of the company’s profits (dividends) and voting rights at shareholders’ meetings.
Why Buy Shares in Nigeria?
- Wealth Creation: Grow your money through capital gains and dividends.
- Portfolio Diversification: Reduce risk by spreading investments across multiple sectors.
- Access to Company Profits: Earn passive income from dividend payouts.
- Liquidity: Shares can be bought or sold anytime through the stock exchange.
- Inflation Hedge: Outpace inflation with returns higher than fixed deposit rates.
Requirements for Buying Shares in Nigeria
Before you start investing, here’s what you’ll need:
- Bank Verification Number (BVN)
- Valid means of identification (National ID, Driver’s License, Passport, or Voter’s Card)
- Passport photograph
- Bank account details
- CSCS (Central Securities Clearing System) account
This is a personal electronic account where your purchased shares are held.
How to Buy Shares in Nigeria (Step-by-Step)
1. Choose a Licensed Stockbroker
You cannot buy shares directly on the Nigerian Exchange (NGX) — you must do so through an accredited stockbroker. Some reputable brokers in Nigeria include:
- Meristem Securities
- CardinalStone Partners
- Stanbic IBTC Stockbrokers
- ARM Securities
- Morgan Capital Securities
- Afrinvest
Check the full list on the Nigerian Exchange website.
2. Open a Stockbroking Account
Complete the broker’s application form, submit your KYC documents (BVN, ID, passport photo, and proof of address) and open a Central Securities Clearing System (CSCS) account through them.
3. Fund Your Stockbroking Account
Deposit money into your stockbroking account to be used for purchasing shares.
4. Place a Buy Order
You can place an order via:
- Stockbroker’s trading platform
- Phone call or email to your broker
- Broker’s mobile app or online portal
Specify the stock you wish to buy, the quantity, and the price (or accept the market price).
5. Confirm Transaction and Track Investments
Once your shares are purchased, they will be credited to your CSCS account. You’ll receive a contract note detailing the transaction.
Use your broker’s portal or NGX apps like X-Gen or brokers’ mobile apps to track market prices and your investment portfolio.
Where to Monitor Stock Prices in Nigeria
- Nigerian Exchange (NGX) Official Website: ngxgroup.com
- Stockbrokers’ Mobile Apps
- NGX X-Gen Trading Platform
Can You Buy Shares Online in Nigeria?
Yes — several licensed stockbrokers offer online trading platforms or mobile apps where you can register, fund your account, and start trading without visiting a physical office. Examples:
- InvestNow.ng by Meristem
- Stanbic IBTC e-Trade
- Chaka.ng
- Troves App
Buying shares in Nigeria has become more accessible and transparent with digital platforms and licensed brokers offering secure services. By understanding the process, working with trusted stockbrokers, and keeping an eye on market trends, you can confidently grow your wealth through the Nigerian stock market.
