Can a student venture into stock buying with 50k?
Sir, I am a student of Nnamdi Azikwe University, studying chemical engineering. I am currently in year 3. I need an advice on stock/stock exchange. Can a student venture into stock buying with a minimum amount of 50k?
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Question answered by:
(Over 20 years investing experience in Nigeria’s financial markets)
I am very happy that you want to start investing at a very young age, if you are persistent with this venture there is no way you will be on the same level with your contemporaries in may be 10 years time.
Investing in stock gives room for the rich, average and the poor. Some stockbroking houses will only allow you to trade with them if you have N5 million in either cash or stock, but I know some that will accept 20k to 500k for one to open a stockbroking account.
I just opened an account for my son at Investment One Financial Services, the company used to be GT Asset Management before CBN instructed banks to sell their holding in their non-banking subsidiaries.
With 50k, you can open a stockbroking account with Investment One..
I hope Investment One will pay Jarushub for this advert.
A friend who works in a stock broking firm on Keffi Street SW Ikoyi Lagos said his firm accepts as little as N20k for the opening of a a stockbroking account.
My questions are: (1.) I bought 1st bank (1000 units) shares like 5 yrs ago, I have my certificate and I have pilled up of dividened sent to my box, How do I redeeme my dividened.
(2.) I bought japaul shares too, I have my certificate too. I have not received any dividened from them, how do I get my dividened.
(3.) How do trade with my shares
(4.) I am a chemical engr and I just got an invite into a bank training school, what do you think I can do because I still want to go to oil n gas and practice as engineer, what are professional courses I can do, or pls I need your advice cos you are in d industry already.
(5.) I had a sister whose late husband bought shares bfr he died, she is with all the certificates, how will she claim the shares because she has not even collected any dividened since 2007. Thanks.