How to sell shares in Nigeria

If you ask me, this is not really the best time to sell shares in Nigeria as most stock prices are already rock bottom. However a time may come when you might want to sell your shares and so how do you do it?

What you will need
- Share certificate or CSCS account with said shares
- Application form
- Stockbrokerage firm
- Signed mandate card
- Current market prices

How to apply for a sale
You will need to issue your stockbroker with a mandate to sell your shares. No one can sell your shares without your approval so that is why the process is normally started when you make an official application and signing the mandate card.

- Go to your stockbroker
- Fill the share sale form which includes the units, price to be sold, signature and others
- Sign the mandate card
- Submit application to stockbroker
- Expect sale within 3 to 5 days
- Collect your cheque from your broker
- Pay into your bank account

The amount you will receive will normally be the balance remaining after the broker's commission which is about 3 to 4%. You should get an invoice from your broker after a sale has been made and your cheque is ready.

Tips:
Better to sell shares when prices appreciate like when the market is at it's peak. In Nigeria, this is sometime during the middle of the year or Q3.