Please read the Terms and Conditions carefully before proceeding on this website or using this service. By accepting this service, you are agreeing to our Terms and Conditions.

For the purpose of this Agreement, the term “CSL, the Company, we, us and our” shall mean CSL Stockbrokers Limited and its affiliates while the term “you, your” shall mean the Client/Customer.

Account Opening

• Every client shall complete and submit the account opening documentation from our website: www.cslstockbrokers.com.
 
• Every client is required to provide valid means of identification such as driver’s license and /or international passport for Individual Account Opening and Company Registration documents such as Certificate of Registration, List of directors of company CAC FORM CAC 7 and CAC FORM 2. Other documents such as a Board Resolution authorizing the opening of the account with CSL; valid identification of authorized signatories for Corporate Account Opening. CSL shall not be liable for the integrity of any of these documents provided. Additionally, proof of address such as a utility bill or bank account statement showing the same address as listed on the account opening form is required.
 
• Active bank account details shall be required to be provided by the Client
 
• In the event that the client wishes to change any significant information (such as address, phone number, email address e.t.c.) with which the account was opened, the Client shall be required to supply the new details by mail to cslservice@firstcitygroup.com.
 
• The name used in opening the account must correspond with the name provided in the bank account details.
 
• Clients may open account with CSL by inter-member transfer of stocks from another stock broking firm to CSL Stockbrokers. However, the responsibility for moving the accounts shall rest solely on the client.
 
• CSL shall in addition to any right of set-off or similar right prescribed by law be entitled without notice to combine or consolidate all or any of the Client’s account with CSL to set off any amount owed by the Client(s) to CSL against any money which CSL may hold for the Client’s account whether the account is held in Naira or in any foreign currency.
 
• The Client hereby FREELY waives his/her/their right to be issued share certificate(s) under section 116 & 117 of the Companies & Allied Matters Act CAP C20 LFN 2004 and under the Memorandum and Article of Association of the listed companies for the Client’s benefit. The Client further  DECLARES that he/she/they shall accept as sufficient certification of his/her/their shareholding any memorandum to that effect delivered to the Client by the listed company(ies) or the CENTRAL SECURITIES CLEARING SYSTEM LIMITED acting on behalf of the Client as satisfaction of  the Client’s right under the lawand under the Memorandum and Article of Association aforementioned.

 

Account Operations

• Client’s mandates shall be required to come in through the web- enabled jobbing book, client’s registered email address and/or a dedicated mandate line.
 
• Unexecuted mandates without period limits would be carried forward for 2 weeks except client objects through the appropriate transaction media.
 
• Clients may fund their account for trading purposes by paying value into the designated bank and / or through e-payment modules on the website.
 
• Client shall bear all the charges involved in all online payments.
 
• Clients are responsible for initiating payment request through transaction media.
 
• Payment from client accounts would be done electronically to the clients bank account provided.
 
• Payments shall not be made to 3rd parties but only to the clients bank account provided.
 
• This retail service shall not permit other requests such as moving account to CSL or changing of address in registrar, following up on missing certificates or dividend warrants except where Client is interested in our PAS (Portfolio Audit Service).

 

Information Technology

• Access to and use of this website is at the users own risk.  CSL does not represent or warrant that the use of this site or any material downloaded from it will not cause damage to property, including but not limited to loss of data or computer virus infection.
 
• Third parties are not permitted to link any other website to this site without obtaining prior written consent from CSL Stockbrokers
 
• CSL shall not be responsible for any loss, omission or damage that may arise due to IT or network downtime. This shall include theft or divulgence of password leading to any liability on the account
 
• The responsibility for the security of clients’ password shall remain with the client.
 
• While CSL would make all reasonable attempts to ensure the system operates effectively, CSL makes no guarantees that the fully automated systems will correctly perform all the functions optimally.
 
• While CSL will use every reasonable endeavour to ensure the integrity and security of the server, CSL does not and cannot guarantee that the server will be free from unauthorized users or hackers and CSL shall not be under liability for non-receipt of funds or instructions/trade mandate or misrouting of email or for any other network failure.
 
• Short Messages / facsimiles and or e-mails are an insecure transmission medium and are subject to call-back procedures. CSL shall not be liable for  any loss, liability or damage as well as costs, charges and expenses  arising out of or by reason of our honoring such items, be it erroneous, fraudulent or otherwise drawn as aforesaid.

 

Indemnity

• CSL is hereby authorized to honor for the stock broking account and to the debit of the client each trade instruction (whether buy or sell) and/or funds withdrawal or transfer request in client’s name from client’s stock broking account(s) with CSL bearing or purporting to bear Client’s Short Messages / or facsimile signature(s) from recognized phone numbers as herein registered or bearing or purporting to bear e-mail name and address as herein registered. Or such other signatures which resemble(s) the specimen(s) thereof at any time(s) filed with CSL; that the honoring by CSL of any such items drawn as aforesaid is hereby rectified, confirmed and approved by the Client.
 
• That any and all instruction given by the Client to the Broker now governing the operation of the Client’s account(s) with the Broker is/are hereby continued in full force and effect, except as the same may be supplemental or modified by the foregoing part of this instruction.
 
• That the Broker may rely upon this instruction unless and except to the extent that this instruction be revoked or modified by the subsequent instruction from the Client and such subsequent instruction received by the Broker.
 
• The client understands that short Messages/facsimiles and or emails are insecure transmission medium and are subject to call-back procedures and hereby indemnify the Broker against any loss, liability or damage as well as costs, charges and expenses which the Broker may suffer or incur however arising by reason of the Broker honoring such items, be it erroneous, fraudulent or otherwise drawn.

 

Regulatory Compliances

• All dealings with clients and agents on the CSL website shall be in strict compliance with the policies, codes, conducts, ethics and regulations of the Securities and Exchange Commission (SEC) and Nigerian Stock Exchange (NSE).
 
• Clients may terminate this contract either through an  inter- member transfer to another brokerage house or through outright sales.
 
• CSL shall not be responsible for the vagaries of the stock market and the consequent diminution in the value of the holdings of our clients.
 
• CSL expressly disclaims all and provide no representations or warranties in respect of the CSL website, its contents and the services provided by us. We do not represent or warrant that the information accessible on or via this website is accurate, complete or current.
 
• If any provision or part of a provision of this agreement is found by any court or administrative body of competent jurisdiction to be invalid, unenforceable or illegal, the other provisions shall remain in force. If any invalid, unenforceable or illegal provision is deleted, the provision shall apply with whatever modification is necessary to give effect to the commercial intention of the parties.

 

Copyright and Trademark

• Copyright in the pages, screens, information, and all material in their arrangement, included in the Site  is owned by or licensed to us unless otherwise noted.
 
• CSL network and all other designs and software applications deployed on this website and for the use of this product are copyrighted materials under the laws of the Federal Republic of Nigeria and applicable international treaties. These applications regardless of the form or medium in which the original or copies may exist are the sole and exclusive property of CSL. These applications including the source and object codes, logic and structure, constitute valuable trade secrets of CSL. CSL may in its sole discretion change, terminate, suspend or discontinue any aspect of the application, including but not limited to contents, features, or hours of availability without notice to its users.
 
• The trademarks, service marks, logos, trade dress, URLs and domain names appearing on this site are the property of CSL, its affiliates or third parties who have granted CSL permission to use the marks. The Client shall not use, copy, download or display any of the marks herein mentioned. Any unauthorized use of CSL trademark is STRICLTY PROBIHITED. Other products and company names mentioned in the site may be the trademarks of their respective owners.
 
• You may not use the Site for any purpose which is unlawful, abusive, libelous, obscene or threatening.