How to buy Shares in MTN in Nigeria 2023

How to buy shares in MTN

Many Nigerians are interested in purchasing shares in MTN, but they are not interested in going through the hassle and obstacles involved in buying shares of a firm listed on the Nigerian stock exchange in their country.

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TheCable can declare that the processes are significantly simpler and less expensive to follow than the conventional methods of purchasing shares in Nigeria after analyzing the procedure firsthand. Since then, we’ve simplified it into 10 simple steps, as shown in the infographic above and described below.

Install an app first:

You would require a smartphone for this process. Visit the app store on your phone.

Download the App:

Get the Primary Offer app for your smartphone or tablet from the Apple iOS or Google Play stores. Be aware that Chapel Hill Denham created the app. The download and installation should take less than three minutes on a strong mobile network.

Open a new account:

Create an account with your birthdate and bank verification number. Your password, which you’d also need to set up here, should be kept as secret as possible. After then, the app will already be partially connected to the banking system because it has some of your information.

Validate your account:

You will be prompted to input your security code after creating your account. You already received an email with that code. You must enter the one-time password (OTP) into the app to verify your account.

Sign in to start:

You would see a congratulations message on your screen once your account was fully configured. Additionally, the message would include a blue login button for the app. To access the dashboard, enter your email and most recent password. After entering, select the MTN Nigeria deal.

Terms and Purchase:

After clicking on the MTN Nigeria deal, you will be sent to a page with terms and conditions. Read them, and then check the box next to the purchase button if you agree to them. Click on “buy” after you’ve finished.

Choose how many shares you want:

“Enter your transaction details” should now appear on your most recent screen. Enter the number of units you wish to purchase in the column marked with the word “specified.” You can purchase 20 shares as a minimum.

The minimum application is 20 shares, followed by multiples of 20 shares (20, 40, 60, 80, 100, 120, etc.), according to MTN. There is no cap, however, the number of shares distributed will fall within the range of the offer size of up to 575,000,000 common shares.

The cost per share was N169. So you would require N3,380 to purchase the bare minimum of shares.

Pay now:

Click “pay now” after selecting the amount of shares and checking the box next to the terms and conditions. If you have a CSCS account, the app will inquire. The financial infrastructure for clearing, holding, and settling securities transactions is known as the Central Securities Clearing System (CSCS) account. All of your shares have their domicile there.

Click on yes if you have a CSCS account; otherwise, click on no. The course of action will depend on which choice you select. The method is easy to follow for both responses. You can process payment for the shares and set up your CSCS account with the aid of the app.

Enter your clearinghouse number and account number if you already have a CSCS account (CHN). You then select “pay immediately” after updating the information for the bank where your dividends will likely be paid.

When you get at this page, you have a variety of payment alternatives;

select the one that works best for you (bank transfer, card payment, or merely USSD) and pay for the shares. Please be aware that additional bank fees will be applied, increasing your N3,380 to N3,418.

Share allotment:

After payment is made, you will receive a letter with your payment information and a receipt for the payments. Your shares would be distributed in fewer than 15 days after SEC approval. sticking to you can quickly become an MTN shareholder by following these steps.