E-Bonus is an electronically captured bonus shares into CSCS system that contains the normal specific bonus allocation for a given investor in place of a share certificate.
In the new procedure bonus issues are directly and electronically credited to the investors CSCS stock account as advised by the registrars.
- With e-Bonus, client’s stock accounts are automatically and electronically credited with their bonus shares in CSCS system.
- Shareholders can easily access and know their shareholding at a glance.
- Based on client’s request Bonus shares are electronically detached and placed under the stockbroking firm of the client’s choice.
- Shareholders can easily have access to their bonus shares immediately after bonus approval for disposal or update.
- Transactions on Bonuses are made more dynamic.
- Unnecessary time, waiting for certificates to be posted to shareholders is removed.
- The risks of loss of bonus shares certificates in transit are eliminated.
- Incidence of stolen certificate is eliminated.
- The clumsiness of gathering bonus share certificates over the years for stock account reconciliation becomes a thing of the past.
- It internationalizes Bonus issue thereby placing Nigerian capital market same pedestal with international communities.
- Paper work is reduced.
- Cost of printing bonus certificates is eliminated.