- Q: Who is Alangrange Securities Limited (ASL)?
A: ASL is a Dealing Member of the Nigerian Stock Exchange (NSE) and is registered
with the Securities and Exchange Commission (SEC) as a Broker/ Dealer. The Company specializes in:
- Stockbroking
- Corporate Finance
- Asset Management
- Custodial/ Nominees Services
- Training Services
- Q: Is Alangrange Securities Limited registered with the SEC and NSE?
A: Yes
- Q: How do I become a client of Alangrange?
A: By obtaining and filling an Alangrange Account Opening form with the following requirements: Two Passport Photographs and a copy of your Driver’s license or International Passport
- Q: How much do I need to be able to do business with Alangrange?
A: =N= 500,000.00. This can be a combination of Share Certificates and Cash or Cash payment only
- Q: What are the various products and services Alangrange has to offer?
A: (i) Services include: Stockbroking, Corporate Finance, Receiving Agent (Stockbroker) to Primary Market Issue, Asset Management, Training Services, Custodial and Nominees Services
(ii) Products include: Alangrange Promissory Notes, Alangrange T-Bills Account, Alangrange Consolidated Equity Plan, Alangrange Pearl Account, Alangrange Asset- Backed Account and Alangrange Reverse Repos Account
- Q: Which stocks should I buy?
A: This will depend on your investment objectives. Discuss with any of our stockbroker and invest accordingly. The stocks quoted on the NSE range from Government bonds, Corporate Bonds to Ordinary Shares. Their interests and dividends vary as well.
- Q: What are the procedures for opening an account with Alangrange?
A: Obtain an account opening form from our office or download one from our website and fill it accordingly, attaching the requirements stated as above in Q3
- Q: Can I place an order to buy or sell online?
A: Yes
- Q: Can I check my Account Statement, CSCS Statement, etc., online?
A: Yes
- Q: Who do I call for more information?
A: The following officers can be reached on the following lines
(i) Samson 07028114273
(ii) Andrew 07028129219
(iii) Ebere 07028129213
- Q: Can I make payments into Alangrange Bank Accounts from any location for share
purchase?
A: Yes
- Q: Who do I contact?
A: See 10A
- Q: Can I place a buy/ sale order from outside Nigeria?
A: Yes, via our website, e-mail, telephone or fax
- Q: Can I make payments through western union or my relatives?
A: Yes
- Q: Can I check my Stock Position online?
A: Yes
- Q: Can I check my Account online?
A: Yes
17 Q: Can I have a Dividend Re-Investment Plan (DRP) through Alangrange?
A: Yes, you can pay your dividend warrants into your account with Alangrange
18 Q: What is the evidence of purchase of stocks and shares?
A: If purchased from the primary market, a receipt would be issued. If purchased via a secondary market or via a stockbroking firm, a receipt and a purchase contract note in lieu of a receipt is issued. After a sale has been made, a sales contract note is also issued in lieu of a receipt.
19 Q: What does a stockbroker charge for his services?
A: A stockbroker charges a commission called “Brokerage” (1.575% of consideration). The charges vary depending on the kind of services provided. However, charges by stockbrokers are controlled by the council of the NSE
20 Q: What is the total fee charged on Buying and Selling?
A: For buying shares - 2.355% of consideration
For selling shares - 2.6475% of consideration
21 Q: What does an investor gain by buying shares?
A: (i) Dividend; which is part of a company’s profit paid out to shareholders on
a quarterly or annual basis.
(ii) Bonus Shares; extra shares fully paid out of reserve which are distributed to shareholders in proportion to their existing holdings
(iii) Price Appreciation; as market prices of shares increase, it leads to an increase in the value of the company’ shares
(iv) Use of Shares; as collateral for loans from banks or other financial institutions
(v) Right; to attend Shareholders’ meetings and participate in its deliberation as voting members
22 Q: Can an investor buy and sell shares on the Stock Exchange directly?
A: No; this can only be done through a stockbroker who is licensed to to represent investors and trade daily on the Stock Exchange like Alangrange.
23 Q: What other services do stockbrokers provide?
A: Investment Advisory Service on the selection and management of investments,
Assisting project sponsors to raise money from the Capital Market
24 Q: Who is a stockbroker?
A: A firm or a person who buys and sells shares on behalf of investors for a commission called brokerage. The commission charged is regulated by the Stock Exchange
25 Q: What are Securities?
A: Securities are written or printed financial documents by which the claims of Shareholders in specified property are secured. They could be stocks, bonds, shares or debentures, traded on a stock exchange.
26 Q: Who is an investor?
A: A person or an institution who uses their savings or loans to buy securities
27 Q: What are Stocks and Shares?
A: Stocks and Shares represent ownership interest in a business
28 Q: Who should buy shares?
A: Anyone who is 21years and above qualifies to buy shares in Nigeria. Parents who may want to buy shares for their children are supposed to buy such shares in their own names and later transfer them to the children when they attain the legal age of 21 years, by nominal transfer. The parents could also buy the shares in the child’s name and sign for the child, who then changes the signature when he comes of age.
29 Q: Who are the owners of the NSE?
A: The owners (shareholders) of the NSE are financial Institutions and Stockbroking firms. In exceptional cases, individuals with integrity and experience in finance and business are also accepted as shareholders.
30 Q: How is the NSE governed?
A: By a team of shareholders elected at an Annual General Meeting (AGM). The council is led by a president and the administration by the Director General.
31 Q: Who are the Regulators of the Nigerian Capital Market?
A: The apex regulators are the SEC and the NSE
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