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Debt Securities

How To Monetize Old Share Certificates and Locate Missing Stocks

Are you one of those people with dozens of share certificates and dividend warrants stashed in a drawer or safe in your house? Let’s teach you how to make them useful again.



Are you one of those people with dozens of share certificates and dividend warrants stashed in a drawer or safe in your house? Perhaps it was handed to you by your father or grandfather, or maybe it is even yours and you don’t know what to do with it? Maybe you are currently based outside Nigeria and wondering what has become of all the shares you bought during the stock market boom and how you can track it considering that it may have had a rebound following the ensuing crash?

READ: Top 5 most profitable global companies in 2020

On today’s article, we will attempt to explore what to do with share certificates and how you can track stocks you may have lost years ago.

What are share certificates?

Share certificates are physical evidence of your ownership of shares in a private, public or quoted company. For quoted companies, they are typically issued during Initial Public Offerings (IPO’s) or Public Offerings. Until recently, such offerings were strictly accompanied with share certificates which often arrive months after the offers are closed.

READ: Biggest online food delivery company makes debut at New York Stock Exchange

How Can I Make Use of them?

Share certificates can be used in several ways. You can use it as a collateral for a loan of the underlying shares is worth a lot. You can also monetize it by selling part or all of the shares listed in the top right or left corner of the share certificate

How Do I Monetize My Share Certificate?

To monetize your share certificate, you will have to open a stock brokerage account if you do not already have one. You hand over the certificates’ to your stockbroker and instruct them to convert the shares into tradable stocks, a process called Dematerialization. Once the share certificates are dematerialized, it enters the database of the Central Securities Clearing System (CSCS) and you can now sell it.

[Read Also: How to use profits to determine what stock to buy]

What if the shares is not in my name?

This is not an uncommon phenomenon, seeing as people sometimes buy shares in the name of their children or loved ones. In that instance, if the person is a minor then you will have to open an account for the person which you will manage on their behalf. If the person is above 18 then you may have to obtain their consent to manage the shares on their behalf. If you bought the shares in a family name, then there will have to be a joint account opened or a trustee mandated to manage the shares.

READ: How Share Prices Are Determined on The Nigerian Stock Exchange

What if the company no longer exists?

That is a possibility. However, some companies may no longer exist in their previous forms because they have transformed into other companies either through name changes, mergers, or a takeover. If that is the case, then all you need to do is go online do a search in order to locate the name of the registrars of the company.

If the company no longer exists because it has been liquidated, then you can also contact the registrar who will link you up to the liquidator in the event that they were able to recover some funds for shareholders.

READ: New broker-dealer lets Nigerian investors purchase US stocks commission-free

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Am I sure the shares have value?

Quoted Shares, provided they exist have a market value. To determine the value of quoted shares you can go to the website of the Nigerian Stock Exchange and download daily stock prices. You can also get that in the website of the CSCS. Once you determine the price, multiply it by the number of shares on your share certificate and you can easily determine the value.


READ: Sterling Bank’s CEO announces date for dividends payment to shareholders

Is it possible I have shares unbeknownst to me?

A lot of people loose share certificates either through post or undelivered mails. It could also be that it was stolen or just missing. Some could also have gotten a bonus issue but are unaware of this. Whatever, the case it you can recover these lost shares by going to the registrar of the company. You can also mandate your stockbroker to check with the CSCS as the shares may have been lodged with them especially if it was an e-bonus or is already dematerialized.

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READ: MSME Fund: Artisan Support beneficiaries receives training certificates

I don’t know what happened to all my shares since the crash?

Don’t worry you are not alone in this. The first thing you should do is try to locate your CSCS number which is given to everyone who trades in shares. You can also then contact your stockbroker and ask that they give you your statement from inception till date. If you do not remember who your stockbroker is then approach a new one with your CSCS number and ask that they locate your portfolio. You may have to register with them as well before this service is rendered.

[Read Also: What Is A Stock Split and How It Affects You]

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What if I am living broad?

If you are living abroad and don’t have access to a stockbroker, just go to the website of the CSCS and click on their contact to get their details and give them a call, you can also click on their product and services portal and follow the prompts. Once you register with them after paying some fees, you will be able to view all stocks bought in your name irrespective of the stockbrokers including their current value.

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.




    February 19, 2014 at 3:06 am


    Sales Manager
    [email protected]

    • Ugodre

      February 19, 2014 at 6:47 am

      I thought the article answered your question already. Pls read again. Regards

  2. Mrs Grace M. Ogunmoyede

    February 25, 2014 at 8:55 am

    This is a great relieve to me. The problem now is how I can get my share certificate in Dangote and how to register my share certificate of sterling bank. Thanks, I appreciate this.

    • Ugodre

      February 25, 2014 at 8:45 pm

      Dangote Cement Registrar is United Securities Limited. Give your stockbroker the Sterling Bank Share Certificates

    • Conrad Maduagwu

      April 23, 2020 at 11:51 am

      I have shares in Access Bank but they have decided to wipe away my money onth pretence that my signature is irregular. My stock broker City code ha intervened severally on my behalf to no avail. Outside signature, they have my other data but are adamant.

  3. Mosope

    August 29, 2016 at 9:18 am

    is it possible to claim my late grandfather’s dividends if i am in possession of his share certificate? If yes, How?

  4. Anonymous

    March 3, 2017 at 9:52 am

    thankx…….i bought share certificate with benue cement industry but ibwas told dangote now owns the company please i want to sell the certificate how am i going to go about it……..? please i need your help

  5. Emmanuel michael

    March 3, 2017 at 9:56 am

    hi please i bought share certificate with benue cement industry years back but now i was told dangote now owns the company……please i need to sell my share now how do i go about it

  6. Anonymous

    April 13, 2017 at 7:05 am

    can anyone recommend a good stock broker to assist sell my share certificate?

  7. Muotune Frank i

    July 12, 2017 at 3:58 pm

    I bought spring bank shares 2003, after that I registered CSCS Account with the No. C4507948 since then I have not heard any thing at all, what will I do somebody help me my name Muotune Ifeanyi F

  8. Ayomikun

    January 20, 2018 at 1:30 pm

    Please I bought oando shares and at a point in time I had a friend in cash craft who helped in getting a cscs number which I lost. Now I have lost the friends contact and I have never collected in cash my dividend only as postal letters obtaining cheques and bonus certificate. I have never cashed the cheque bcoz I don’t have a current account. I want to monetise now all my dividend and if possible sell all the shares

  9. Mathrew

    June 28, 2019 at 11:25 am

    Nice write up, could help those who have lost hope on their old shares certificate

  10. Yekini Oyetunji Ojo

    July 1, 2019 at 5:10 pm

    How can I sell some of my shares?.
    I used different names to purchase these shares.
    Hope that can’t be any problem to sell it.,?.

  11. Unity onavwa

    February 4, 2020 at 10:02 am

    Comment: how can i covert my oceaniic bank share to eco bank share.

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Debt Securities

FEC approves new Debt Management strategy for 2020–2023

The FEC has approved a new Medium Term Debt Management Strategy (MTDS) for Nigeria.



Debt Management Office resumes FGN savings bond offer on August 10, Eurobonds, Patience Oniha, DMO, External debt servicing

The Federal Government has indicated it is looking inward as far as debt is concerned.

This point was unscored in the approval of the medium term Debt Management Strategy for the period 2020-2023 as disclosed by the Debt Management Office (DMO) in a statement issued on Wednesday after the FEC held its meeting in Abuja.

The MTDS  policy as a document tries to articulate the debt mix of the government considering the cost and risk trade-offs that best suit the country’s broader macroeconomic and public debt management

READ: Investors scramble for DMO sovereign sukuk as it records 446% oversubscription

It stated, “The MTDS, 2020-2023 has been prepared by the DMO, in collaboration with Federal Ministry of Finance, Budget and National Planning and the Central Bank of Nigeria.

“Other collaborating stakeholders are the Budget Office of the Federation, National Bureau of Statistics and the Office of the Accountant-General of the Federation.”

READ: Nigeria’s high recurrent costs, low revenue and escalating debt numbers

What has changed

With the new strategy, a larger proportion of new borrowing will be from domestic sources using long-term instruments while for External Borrowing, concessional funding from multilateral and bilateral sources will be prioritised.

Also, the target of fiscal sustainability has been increased from 25% (MTDS, 2016-2019) to 40% in the new strategy.

In simple language, the government wants to increase borrowing from 25% of GDP to 40%. While this will provide investment outlets to investors and mop up cash and calm inflation rate, it will also put a lot of pressure on the domestic debt market, interest rate and liquidity.

READ: Mining Cadestre Office (MCO) generates revenue of N2.303 billion in 2020

The target, according to DMO, was increased to accommodate new borrowings to fund Budget Deficits and other obligations of Government; Promissory Notes to be issued to settle Government Arrears; and, the Ways and Means Advance at the Central Bank of Nigeria.

DMO added that the strategy would sustain the issuance of longer-tenored instruments with tenors of 10 years and above, in order to effectively manage Refinancing Risks.

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Why it matters

The new debt policy has to be reworked in light of the current global pandemic, reduced revenue from shock and volatility in the oil market. The public works in the budget will be funded, indicating there is a low likelihood of project abandonment.


Government appetite for debt seems to have found some cover or justification from the assertion by DMO that Nigeria is still well below the threshold 55% for countries in Nigeria’s peer group, but massing debt could constraint government flexibility in public finance in the coming years and reduce monetary policy tool available to CBN.

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Debt Securities

Ecobank Nigeria to launch $300 million senior notes on International Debt Market

Ecobank Nigeria has announced that it is seeking to raise $300 million from the international debt capital market through the issuance of senior notes.



Ecobank Nigeria

Ecobank Nigeria, a subsidiary of Ecobank Transnational Incorporated (‘’ETI’’) has announced that it is seeking to raise $300 million from the international debt capital market through the issuance of senior notes.

This is contained in a disclosure signed by the Group Head, Adenike Laoye and published on the website of the Nigerian Stock Exchange (NSE).

READ: Nigeria makes sudden U-turn, suspends external borrowing from international debt market 

According to the bank, the proceeds from the Eurobond will help to provide medium-term funding for the company and also help to enhance its capacity to support international trade and service in Africa.

A part of the disclosure reads, “Ecobank Nigeria Limited (the “Bank”), a key subsidiary of Ecobank Transnational Incorporated (“ETI”) is seeking to raise capital from the international debt capital market through the issuance of US$300 million senior notes (the “Notes”), pursuant to the United States Securities and Exchange Commission Rule 144A and Regulation S (the “Transaction”).”

READ: FUGAZ; Nigerian banks considered too big to fail

What you should know

  • The Notes will be listed on the London Stock Exchange through a Dutch special purposes funding vehicle.
  • The bank also noted that the transaction is subject to prevailing market conditions and the conclusion of the necessary transaction documentation.
  • It is important to note that Ecobank Nigeria intends to list the Notes on the London Stock Exchange, with the expectation that the Notes will be traded on its regulated market.
  • Also, the Central Bank of Nigeria has confirmed that it has no objection to the Transaction, as stated in the disclosure.
  • Recall that Nairametrics reported in January that Ecobank Nigeria announced that it secured a N50 billion, 10-year bilateral subordinated loan with the aim of maintaining stable liquidity and improving its balance sheet.

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