How to Buy Shares in Zenith Bank and How to Sell it in 2023 (NSE)
Zenith bank shares
Zenith Bank is one of the biggest and strongest financial institutions in Nigeria. Totaling over N355 billion in shareholders equity as of the end of 2019, it is an attractive place to invest and buy shares for good profitability. Zenith Bank has over 31 billion ordinary shares outstanding. Below are steps on how you can buy the Zenith Bank shares/stock.
How to buy shares in zenith bank
To be able to buy shares, it has to be listed on the Nigerian Stock Exchange (NSE). The Nigerian Stock Exchange (NSE) is the official market platform where you can buy or sell shares, including that of Zenith Bank. Stocks are sold and bought here every working day. Zenith Bank shares have been listed on the NSE since 2004. And below are two ways you can buy their shares.
Buying Zenith Bank shares via a Stockbroker
First, you need a stockbroker who is registered with a stockbroking firm. Shares are not just something you can buy from a table somewhere. You buy shares from someone willing to sell. The stockbroker is the one that will link both the buyer and seller together, meaning they execute the buy or sell order on your behalf, and also on the behalf of the seller. They also provide detailed market information including closing day prices.
Open an account with a stockbroking firm. This will require a minimum deposit depending on the policies of the firm. This includes fees that cover their services including the periodic statements about your stocks. Only then can you send in a buy or sell order for them to execute.
This will require you to provide means of identification. Your BVN, Signature, passport photographs, documents, and other needed details. This will involve many documents to pass back and forth. Lucky you, thanks to tech and the internet, this process can also be done remotely via stock broker websites or apps. So you can sign up on their website, and upload all the needed information.
Now, everything thing you need to do is going to be handled by your stock broker at your request. To have a direct look at the activities of your account, you will need to open a Central Securities Clearing System (CSCS) account. This service has access to all accounts managed by stockbrokers. So you can view your account portfolio directly with it, without having to pass through a stockbroker.
Next, deposit money with your stock broker, along with instructions on the number of shares you want to purchase. This can be via email service or the mobile app of the stockbroker.
You will get feedback from your stockbroker at the end of the transaction. It’s should take about 4 days for the transaction to be fully concluded.
Buy Zenith Bank shares via Wealth.ng app
Wealth.ng is a popular platform for buying shares and trading investments remotely. They make it easier to view and buy shares right from the comfort of your home. All you have to do is go to Wealth.ng website, sign up, then provide the needed details. Then proceed with easy to use user interface to choose and buy Zenith Bank shares.
How can I Sell my Zenith Bank shares
Selling your shares is almost the opposite procedure of buying them, but with just a slight difference. And since they are always in demand, selling them will not take long, a day can be enough. To sell your Zenith Bank shares
First, you need to create a Central Securities Clearing System (CSCS) account. This is needed to convert your physical share certificate to market stock.
Next, dematerialize the Zenith bank share certificate that you want to sell via a stock brokerage firm. Choose a good one from the NSE website. You will need to create an account with them if you do not have one and provide means of identification too. The stockbroker will execute the sell order on your behalf.
You will have to wait for the transaction to clear out. Up to 4 days is required for this, and your stock broker who also serves as your clearing house agent will notify you at the end of it.
At the end of the transaction, your money from the sales of your Zenith Bank shares will be deposited with the stockbroker firm. withdraw your money from your stockbroker. This can take up to 24 hours.
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