Dematerialization Form Template for Nigeria

The Dematerialization Form is a crucial document in Nigeria's modern securities trading system, designed to facilitate the transition from physical to electronic shareholding. This form becomes necessary when shareholders need to convert their paper-based share certificates into electronic format, a process that has been mandated by the Securities and Exchange Commission (SEC) to enhance market efficiency and reduce risks associated with physical certificates. The form collects comprehensive information including shareholder details, share certificate information, bank account particulars, and CSCS account data. It is governed by various Nigerian regulations including the Investment and Securities Act 2007 and SEC Rules, ensuring a standardized approach to securities dematerialization across the Nigerian market. The document is particularly relevant in the context of Nigeria's push towards a fully digitized securities market and plays a vital role in modernizing the country's financial infrastructure.

1. Shareholder Information: Personal details of the shareholder including full name, address, nationality, and contact information

2. Securities Details: Information about the physical shares being dematerialized, including company name, certificate numbers, and number of shares

3. Bank Account Details: Banking information for dividend payments, including bank name, account number, and BVN (Bank Verification Number)

4. CSCS Account Information: Details of the shareholder's CSCS account or stockbroker information where the dematerialized shares will be credited

5. Declaration: Shareholder's declaration confirming the accuracy of provided information and authorizing the dematerialization process

6. Signature and Date: Space for shareholder's signature and date of execution