LEARN · STEP 4 OF 5
How to buy your first stock
Open a CSCS-linked account with a licensed broker or app, fund it from your bank, then place an order for the shares you want. Use a limit order (you name your max price) rather than a market order while you are learning.
Step-by-step
-
Open and verify your account
Choose an SEC-licensed stockbroker or investing app, complete KYC with your BVN and valid ID, and wait for your CSCS account details. This is the Step 3 setup. Do not skip verifying the firm’s licence.
-
Fund your account
Transfer money from your bank into the brokerage wallet. Start small: an amount you would not miss if the market dipped 20% tomorrow. There is no prize for going big on day one.
-
Pick your stock, then pick your price
Search the ticker (e.g. ZENITHBANK) in the app. You will see a buy price and a sell price. A market order buys immediately at whatever the price is; a limit order buys only at your stated price or lower. Beginners should prefer limit orders. You stay in control.
-
Place the order and confirm
Enter the number of shares, review the total including fees (brokerage commission plus small statutory charges apply on every trade; ask your broker for the exact schedule), and confirm. Your CSCS record updates after settlement.
After you buy
- Your shares sit in your CSCS account. You can check the holding any time.
- Dividends, when declared, are paid into your linked bank account (after 10% withholding tax).
- Resist checking the price every hour. Investing rewards patience, not screen time.
Quick summary
- Account → fund → limit order → confirm. Four moves.
- Start small, use limit orders, and always review fees before confirming.
- Your shares live in your CSCS account; dividends land in your bank.