Has CSCS stopped issuing statements?

Dear Editor,

My broker says CSCS has stopped issuing statements; that one must deal with various banks directly without brokers. I want to benefit from CSCS e-bonus.

 Ayo, 08060948175.

Dear Ayo,

It is not conceivable that the Central Securities Clearing System (CSCS) Limited has stopped issuing stock statements because that is one of the reasons it was set up; as a depository for the Nigerian Stock Exchange. I will advise that you get directly in touch with the CSCS on the 1st floor of the Nigerian Stock Exchange building at 2/4 Customs Street, off Customs Street, Lagos Island or through P.O. Box 3168, Lagos or through Tel: 01-2664075, 2643007, 2643139, 2666660 or through their e-mail address on [email protected]. E-bonus is the right of all shareholders and simply refers to electronic form of bonus shares. It means that when a quoted company declares scrip or bonus issues, rather than issue physical bonus share certificates to investors, they are converted to electronic form and credited directly to the investor’ stock account in the CSCS depository under the investor’s stock broking firm account with CSCS and a credit advice is sent to the investor. To qualify for the e-bonus, you must 1.) Have an account with a stock broking firm who is a member of the Nigerian Stock Exchange and 2.) Register by completing a CSCS Shareholders Particulars Form to join the CSCS  depository through any stock broking firm of your choice.