F.A.Q

Frequently Asked Questions & Answers

Have a look at frequently asked questions & answers to understand more.
Citi Investment was incorporated in 2006 and commenced operations in 2007.
Our office is at 6, Osborne Road, Ikoyi, Lagos.
Equity (securities) trading, Investment benefit management (stock audit), Stockbroker to primary issues, Subscription to FGN savings bond, Receiving agent to primary issues, and other ancillary services.
No. Due to our registration as a "Broker" with the Securities and Exchange Commission (SEC) we do not offer portfolio management services.
Chaka Technologies Limited is a Digital Sub-broker with Citi Investment Capital Limited, providing a digital trading platform for prospective investors.
Purchase and Sales of shares involve remittance of statutory fees. The fees for both Purchases (Buy side) and Sales (Sell side) are listed below as calculated as percentages of the "Consideration" (number of shares times unit price):
a. Buy Side: SEC fee - 0.3%; Contract Stamp - 0.075%; CSCS Alert Fee - N4.00 + 7.5% VAT; Brokers Commission - 1.35% + 7.5% VAT
b. Sell Side: NSE fee - 0.3% + 7.5% VAT; CSCS fee - 0.3% + 7.5% VAT; Contract Stamp - 0.075%; CSCS Alert Fee - N4.00 + 7.5% VAT; Brokers Commission - 1.35% + 7.5% VAT.
If you have opened a stockbroking account with us and have sufficient funds in your account, you can send an instruction for the purchase of the desired shares and it will be executed. The value of shares procured with the funds supplied will be net of the statutory fees, which are automatically captured in the transaction.
Settlement for sales of shares is on T+3 (third working day after transaction). If the investor is on Direct Cash settlement (DCS) then the sales proceeds will settle into his or her bank account registered during opening of the stockbroking account. If the investor officially opted out of DCS then the funds settle into the company's brokerage account pending further instructions from the client.
Direct Cash Settlement (DCS) is the process whereby the proceeds of sales of an investor's shares are directly credited to his or her bank account by the Central Securities Clearing System Limited (CSCS) on the settlement date (T+3, third day after transaction), without any recourse to the Stockbroker (in this case, Citi Investment Capital Limited). This reduces processing time for the client and the Stockbroker. A client who prefers to opt out of DCS (for flexibiility of utilizing the funds to purchase more shares) will have their funds paid into the stockbroker's account.
The fee structure for listing can be seen at the Nigerian Exchange website at the link: https://ngxgroup.com/exchange/raise-capital/listing-fees/
A rights issue is when a company provides the opportunity for its existing shareholders to purchase additional shares of the company at a fixed price, discounted from the market value but within a specified period after which the offer closes.
Companies' notify the general public and their shareholders of the right issue and provide application forms for shareholders to apply to purchase the shares.
A: You can reach us via:
a. Email - info@citiinvestmentcap.com (for general enquiries).
b. Telephone: +2349064767732.

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