A Brief History of NSL
Nigerian Stockbrokers Limited (‘NSL’) was incorporated as the first stockbroking firm in Nigeria on 26th September, 1960. Prior to the implementation of the Nigerian Enterprise Promotion Act 1972 (‘Indigenisation exercise’), NSL was wholly owned and managed by Financial Holdings Nigeria Limited (‘FHNL’). Following the Indigenisation exercise, the interest of FHNL was transferred to some Nigerian citizens and association. NSL is, therefore, a wholly owned Nigeria company.
Authorised and Fully Paid –up Capital
The Authorised Share Capital of the Company is N750 million divided into 1,500,000,000 Ordinary shares of 50K each out of which N313million has been issued and fully paid-up. Institutional investors show a strong presence among the shareholders and this has been one of the major factors for the continued strength and stability of the Company. The breakdown of the shareholding structure is as follows:
||Sterling Bank Plc
||Other Nigerian citizens and associations
Our primary responsibility is to deal in stock and shares. In this regard, it deals in all securities quoted on The Nigerian Stock Exchange which include Equity, Industrial Preference shares and Debenture Stocks, State and Federal Government Loan Stocks or Bonds. Our activities in these areas include buying and selling of any of the above securities on behalf of individuals and institutional investors.
Trading in Securities
This involves the selection of aggressive shares with high potentials for capital gains and advising clients on when to buy and sell such shares in order to realise the accretion on the securities, by way of capital gains and maximise returns on the investments.
As the pioneer and leading member of The Nigerian Stock Exchange, we use our wide exposure and experience in packaging and managing investment portfolios for clients. Our activities cover selection, valuation and monitoring of the performance of the securities in the portfolio.
Investment Advisory Services
Our Investment Advisory Services cover, essentially, professional advice on investment opportunities, timely purchase or sale of investments and the review of the existing investments for corporate and individual investors.
We operate Nominee facilities for the following categories of Nigerians who, either due to their residence outside the country or nature of work, cannot be personally involved in the purchase, sale or monitoring of their investments. The categories of the clients include:
1. Nigerians serving in foreign missions and those resident abroad
2. High net-worth individuals
3. Institutional investors
We make investment on nominee basis on behalf of these categories of clients and forwards statements of such investments periodically to the clients. Such statements include income statements; trading accounts, list of investments and valuation of the investments in the portfolio.
NSL handles nominal transfer of shares between the following categories of shareholders:
• Pension Institutions and its Trustees
• Asset sharing between newly created States
• Individuals and corporate organizations
• Foreign technical partners of multi-national corporations
• Foreign and domestic companies