When it comes to investing a lot goes through an individual’s mind. And there are high chances of shares being among the discussed topics.
People tend to grow their funds by investing in Gold, Cryptocurrency, Real estate, Mutual funds, and others. Not forgetting shares too.
Shares are highly spoken about all over the world and it doesn’t seem like the hype is ending anytime soon. It keeps surging higher every day.
Share capital refers to all of the shares of an enterprise. The owner of shares in the company is a shareholder of the corporation.
In financial markets, a share is a unit used as mutual funds, limited partnerships, and real estate investment trusts.
A huge number of people keep buying shares of different companies, I guess you are interested in buying shares of a company from the bank if you are reading this blog post.
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans.
Lending activities can be directly performed by the bank or indirectly through capital markets.
Getting to become a shareholder and own shares in a company is not a big deal. Be it an international or local company.
That is the reason I decided to write this article on how to buy shares in a bank in Nigeria. Due to the huge amount of people searching for it.
No need of seeking assistance or going through any tedious process on this, with the guidelines we would be providing you would know how to buy shares from any bank in Nigeria.
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So let’s get started on this article on how you can buy shares in a bank In Nigeria.
Difference Between Shares And Stocks
I have come across a lot of people getting confused with the two words Shares and Stocks due to they are mentioned on similar occasions.
Am also a victim of this, before I did some research on this topic, I decided to make you guys understand better by writing about it.
Shares and Stocks don’t have enough differences because they are the same. Different words with the same meaning.
It all depends on the country when it comes to the subject. Some people prefer using the word stocks, while some prefer shares.
Benefits Of Buying Shares
Part-ownership of a company
When you are a shareholder of a company, you have acquired a certain percentage of it. Giving you the right to become one of the owners.
Shares that are listed are very liquid products in nature, which can be bought and sold quickly over an exchange platform easily and quickly.
Before you can purchase a share of a company you need capital, which grows when there is any profit made by the company.
Profits and losses are divided equally among shareholders. So if there is any profit, all the shareholders would benefit according to their percentage of shares owned in the company.
Ability to vote on important company decisions
You can air your opinions on decisions affecting the company you own shares in. Your impact will be felt according to the number of shares you own in the company.
Should You Buy Shares In A Bank Now
Yes, as long as you’re planning to invest for the long-term, the decision is up to you and shouldn’t be influenced by another person’s decision.
Start with small amounts invested through dollar-cost averaging and you’re investing in a highly diversified portfolio.
Just be careful when carrying out your research on what companies it might be profitable to buy shares on, select your desired pick, and move with it.
Requirements To Buy Shares In A Bank In Nigeria
- BVN Number
- A valid form of identification (National ID card, International Passport, Driver’s License)
- Two colored passport photographs
- Original or photocopy of a recent utility bill (within the last 3 months)
How To Open A Brokerage Account In Nigeria
- Obtain and complete the brokerage house account opening forms. Most houses have their account opening forms on their websites for you to download.
- After filling out the form, you will be required to attach it together with your National ID card, International Passport, Driver’s License, passport, and utility bill.
- Attach a mandate later to it so your broker can have permission to transact on your portfolio on your behalf.
- Now submit the form attached with your documents and mandate form to your stock broker.
- This should include your payment for the initial deposit for stocks.
- The minimum deposit shall be credited to your account with the brokerage house and applied to buy stocks for you based on your instructions.
- These stocks if purchased through the secondary market, will reflect in your CSCS account.
Procedures To Buy Shares In A Bank In Nigeria
- After opening your brokerage account, your broker will give you the details of the account.
- You can now fund it with wire transfers.
- Now you can start submitting trade offers.
- When any trade offer is successful, your broker will send you a contract note in which you have details on the shares bought.
- The selling price, the commission, as well as the fees charged.
Hope you found this article amazing and fun to read. Let us know about your experience trying to buy shares in a bank In Nigeria.
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