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Frequently Asked Questions (FAQs)
Q. What do I need to open a stockbroking account with you?
A. The minimum amount required to open a Stockbroking account is =N=500 (five hundred thousand naira) which can be a cheque, transfer of shares already resident with other stock broking firms or a combination of the two. Kindly go through the steps to opening a Stockbroking account on this site.

Q. How do I monitor my stocks?
A. You can monitor your stocks and access your stockbroking account by logging on to www.edcsecurities.com using your given access code and pass code.

Q. How do I know when trades are executed on my behalf?
A. An automatic trade notification e-mail will be sent once a trade is carried out on your account, hence, the need to provide your current and functional email address.

Q. Will EDC give me regular advice that guides my decisions?
A. Our clients have access to our highly acclaimed research reports and stock select that help guide investment decisions.

Q. How long does it take for my certificates to get verified?
A Once all documents required for verification are provided, your certificates could be verified within two weeks of submission with your stock broker. Certificates may sometimes take longer to verify. Please ask your stock broker for requirements for certificate verification.

Q. How do I deposit my certificates and what happens after?
A. You can only get your share certificates verified through a stock broking firm. You have to take your certificates to a stock broking firm where you will fill in/sign forms including the Transfer Form and the Know Your Client (KYC) Form. They will process the certificate(s) and take them to the Registrar, who will verify them and then send information to the CSCS about the verification. The CSCS will complete the transaction and credit your CSCS Account accordingly.

Q. Why do I need Banker’s Confirmation?
A. Banker’s Confirmation is needed when the Registrar cannot verify a client’s signature on the Transfer Form sent to them with the sample they have stored in their database. Banker’s Confirmation will also be needed if the Registrar does not have a sample signature for the client.
With a Banker’s Confirmation, your bank is confirming to the Registrar that they know you and that you have an active account with them. They are also confirming to the Registrar that the sample signature you have signed on the Banker’s Confirmation is indeed your true signature.

Q. Why do I need to write to the Registrars for my own missing certificates and not EDC?
A. When making any request to the Registrars for missing certificates, you are doing it through EDC and your letter should be addressed to the Registrar directly, but submitted to EDC for processing. EDC will then write a cover letter and take the documents to the Registrars on your behalf. We will follow up with the Registrars and update you with the outcome as soon as we have feedback.

 

 
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