Here are the charges attached to the buy and sell orders for Nigerian Stocks:
Trade Fee
For BUY Orders:
Bamboo’s Commission: 1%
Statutory Fees from NGX and CSCS
Trade Alert Fees: N4
SEC Fees: 0.3%
Stamp Duties: 0.08%
Other (Brokerage Commissions): 0.75% - 1.35%
VAT: 7.5% of Brokerage and SEC fees
For SELL Orders:
Bamboo’s Commission: 1%
Statutory Fees from NGX and CSCS
NGX Fees: 0.3%
CSCS Fees: 0.3%
Trade Alert Fees: N4
Stamp Duties: 0.08%
Other (Brokerage Commissions): 0.75% - 1.35%
VAT: 7.5% of NGX + CSCS + Brokerage fees
You will see the breakdown of the charges on the page when you review your Buy/Sell order.
You can hold stocks for as long as you like and you will not be charged for holding stocks or leaving funds in your Bamboo wallet.
Dividend Taxes
There is a 0.5% WHT (Withholding Tax) capped at N500 on dividends. This only applies to dividends and does not apply to returns made from selling stocks or from capital appreciation.
There is a dividend holding fee of N100 per dividend received.
Here are other charges you may come across;
Deposit Charges
Naira Card: The charge with the Naira card option is 1.4%. The charge is capped and will not exceed ₦2000.
Naira Bank Transfer: The Naira bank transfer option has a flat rate of ₦100 regardless of the amount being deposited.
USD Card: The charge with the USD card option is 2.9%.
Withdrawal Fee
There is a withdrawal fee of ₦45 to Naira bank accounts and $45 to USD bank accounts.
The minimum withdrawal amount to a USD account is $500.
For more information, please feel free to check full details on our terms of service and disclosures on investbamboo.com/legal