Schedule of NASD OTC Market Fees

NASD SEC CSCS BROKERAGE TOTAL
PURCHASE 0.25% 0.20% 1.350%
VAT 7.5% 7.5%
TOTAL(%) 0.26875 0.20% 1.45125 1.92
NASD SEC CSCS BROKERAGE TOTAL
SELL 0.25% 0.20% 1.350%
VAT 7.5% 7.5% 7.5%
TOTAL(%) 0.26875 0.215 1.45125 1.935
Note: Brokerage fee is capped at 1.35% of consideration subject to a minimum charge of N500. NASD Alert Fee: N4.

SECURITY NASD CSCS BROKERS PARTIES TO BE CHARGED
State & Corporate Bonds N10.00 per million of face value N10.00 per million of face value Nil Seller & Buyer
State & Corporate Bonds N6.00 per million of face value N7.00 per million of face value N2.00 per million of face value Seller & Buyer
Notes:
  1. Trades initiated by Custodians attracts a charge of N10/mill for both NASD and CSCS. 
  2. Trades initiated by a Participating Institution, attracts a charge of N6/mill for NASD, N7/mill for CSCS and N2/mill for Participating Institution.

NASD PLC SCHEDULE OF PARTICIPANTS FEES
1 Registration Fee for Broker-Dealer 300,000
2 Annual Fee for Broker Dealer 50,000
3 Registration Fee for Authorized Trader – Broker Dealer 70,000
4 Annual Fee for Authorized Trader  – Broker Dealer 20,000
5 Annual Trading Platform Maintenance Fee: Broker Dealer 90,000
6 Trade Guarantee Fund: Broker Dealer (One-Off) 100,000
7 Registration Fee for Broker 200,000
8 Annual Fee for Broker 35,000
9 Registration Fee for Authorized Trader – Broker 70,000
10 Annual Fee for Authorized Trader – Broker 20,000
11 Annual Trading Platform Maintenance Fee: Broker 90,000
12 Trade Guarantee Fund: Broker (One-Off) 100,000
13 Registration Fee for Dealer 50,000
14 Annual Fee for Dealer 20,000
15 Registration Fee for Authorized Trader – Dealer 70,000
16 Annual Fee for Authorized Trader – Dealer 20,000
17 Annual Trading Platform Maintenance Fee: Dealer 90,000
18 Trade Guarantee Fund: Dealer (One-Off) 100,000
19 Registration Fee for Sub-Broker 50,000
20 Annual Fee for Sub-Broker 20,000
21 Registration Fee for Authorized Trader – Sub-Broker 70,000
22 Annual Fee for Authorized Trader – Sub-Broker 20,000
23 Annual Trading Platform Maintenance Fee: Sub-Broker 90,000
24 Trade Guarantee Fund: Sub-Broker (One-Off) 100,000
25 Registration Fee for Accredited Issuing House 200,000
26 Annual Fee for Accredited Issuing House 50,000
27 Registration Fee for Custodian 100,000
28 Annual Fee for Settlement Bank 500,000

S/N ITEM FEE (₦)
1 Administrative fee for trading Rights of admitted securities 0.1% of gross proceed of  the issue and 100,000
2 Re-issuance of Trading License 20,000
3 Re-issuance of Certificate of Completion 10,000