By Oputah David Michael
The Dangote Refinery IPO may be the investment opportunity currently attracting the most attention in Nigeria, but buying shares in a public offer is only one part of participating in the capital market. For Nigerians who want to own shares in listed companies, build an investment portfolio, participate in public offers and rights issues, or explore other securities, a growing number of digital platforms now provide access to the market.
However, the platforms are not identical. Some are primarily focused on Nigerian equities, some provide access to international markets, while others specialise in primary-market opportunities such as public offers and rights issues. Here are top seven platforms Nigerians can consider when looking to participate in the capital market, with FSDH Capital offering a particularly broad combination of digital access and traditional capital-market expertise.
- FSDH Capital
For investors looking for a digital platform that connects everyday investing with the broader Nigerian capital market, FSDH Capital offers a combination of technology and established capital-market infrastructure. FSDH Capital is licensed by the Securities and Exchange Commission (SEC) as a Broker/Dealer and Issuing House and is a Dealing Member of the Nigerian Exchange (NGX) and FMDQ Securities Exchange.
FSDH Capital is more than a digital interface for buying shares. Its business includes investment banking, debt solutions and securities trading, giving investors access to a broader range of capital-market services. Its digital investment proposition has also expanded considerably. Through the FSDH Capital Mobile App, investors can open an investment account, buy and sell Nigerian stocks, invest in Treasury Bills, Commercial Papers and FGN Savings Bonds, monitor their portfolios and receive investment updates.
The app also now supports IPO offers, allowing investors to browse and subscribe to new public share offerings and track IPO holdings. For someone investing for the first time, the account-opening process is designed to be digital, with no need for paperwork or a branch visit. New investors can download the FSDH Capital App from the App Store or Google Play or access the Web Portal at https://ipos.fsdhcapital.com/ and complete the onboarding process.
The technology also simplifies the process of setting up the investment and Central Securities Clearing System (CSCS) accounts required for investing in Nigerian equities. The platform is particularly relevant during the Dangote Refinery IPO. FSDH Capital is one of the Joint Issuing Houses to the offer, providing investors with a direct capital-market route to participate in the transaction.
For existing FSDH Capital customers, the Dangote IPO can be accessed through the app or web platform. Investors can select the offer, enter the number of shares they wish to subscribe for, fund their account where necessary and complete the subscription digitally. This combination of *regulated capital-market expertise, investment products and digital accessibility is what makes FSDH Capital relevant beyond the current IPO.
Investors in the diaspora are not left out. FSDH facilitates the processing of your Certificate of Capital Importation (CCI), which establishes your right to repatriate dividends and sale proceeds through the official FX window. The amount you receive in your home currency will depend on prevailing exchange rates and FX availability at the time.
For an investor whose interest begins with Dangote but extends to building a portfolio of Nigerian stocks and other securities, the platform provides an opportunity to continue investing beyond a single public offer.
- NGX Invest
NGX Invest is the Nigerian Exchange Group’s electronic platform designed specifically to facilitate public offers and rights issues. Its proposition is simple: investors can view available offers, select the opportunity they are interested in and complete their subscription electronically.
NGX is therefore particularly relevant to investors who want digital access to the primary market, where companies and institutions raise new capital from investors. For someone whose immediate objective is participating in public offers and rights issues rather than continuously trading individual stocks, NGX Invest provides a dedicated digital route.
- Afrinvestor 2.0
Afrinvestor 2.0 is the digital investment platform from Afrinvest that gives investors access to Nigerian equities and other investment products. Through the platform, investors can buy and sell Nigerian stocks, while Afrinvest also provides access to stocks in other markets through its broader digital investment offering.
Beyond equities, Afrinvest’s wider investment platform provides access to fixed-income products such as Treasury Bills, FGN Savings Bonds and Commercial Papers.
- Meritrade
Meritrade, powered by Meristem Stockbrokers, provides a digital route to buying, selling and managing stocks. Meritrade says its platform is designed for both beginners and experienced investors, with features including real-time trading, market insights, watchlists and alerts.
Meristem Stockbrokers is a member of the Nigerian Exchange and is licensed by the SEC, placing Meritrade within the regulated Nigerian stockbroking ecosystem. For an investor primarily interested in buying and selling Nigerian equities through a digital stockbroking platform, Meritrade provides an established option.
- CardinalStone CS Alpha
CS Alpha is CardinalStone’s mobile investment platform, providing users with digital access to their investments. The platform allows investors to view and manage portfolios in real time and provides access to stocks and securities, as well as products including bonds, Treasury Bills and Commercial Papers.
CardinalStone Securities operates as a dealing member of the NGX and is registered with the SEC as a broker/dealer, providing access to Nigerian equities and other securities.
- ARM Stocktrade
ARM Stocktrade provides another digital route into securities trading. The platform enables investors to trade stocks online and provides access to research resources, market information and order-management capabilities. ARM says investors can discover, buy and sell stocks through its platform and manage their investments digitally.
For investors who want a combination of digital execution and research support when trading securities, ARM Stocktrade is another platform to consider.
- Stanbic IBTC E-Trade
Stanbic IBTC Stockbrokers provides investors with digital access to the Nigerian capital market through its mobile application and E-Trade platform. Stanbic IBTC Stockbrokers is licensed by the SEC and is a member of the Nigerian Exchange. Its E-Trade platform provides online and mobile access, live market data and automated trade notifications.
For investors who prefer the structure of an established stockbroking institution but want to execute and monitor their investments digitally, the platform provides that combination.
The right digital investment platform should not simply provide a button for buying shares. It should make it easier for investors to understand their investments, monitor their portfolios and continue participating in the capital market.
For investors seeking that combination of digital convenience and established capital-market capability, FSDH Capital presents a proposition that extends beyond the Dangote Refinery IPO.
Its role as an SEC-licensed Broker/Dealer and Issuing House, its position as a Dealing Member of the NGX and its expanding digital investment platform mean that the investor journey can continue beyond a single public offer.
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