Schedule of NASD OTC Market Fees

EQUITY 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.

BONDS FEES
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.
REGISTRATION FEES
  • Participating Institution One-Time Application Fee of ₦300,000 and ₦200,000 for Broker/Dealers and Brokers, respectively.
  • Annual Membership Fee of ₦35,000 and ₦50,000 for Broker/Dealers and Brokers, respectively.

For further details please refer to the table below

NASD PLC SCHEDULE OF PARTICIPANTS FEES
1 Registration Fee for Broker/Dealer 300,000
2 Annual Fee for Broker/Dealer 35,000
3 Registration Fee for Broker 200,000
4 Annual Fee for Broker 50,000
5 Registration Fee for Authorised Traders 50,000
6 Annual Fee for Authorised Traders 20,000
7 Annual Trading Platform Maintenance Fee 90,000
8 Registration Fee for Accredited Issuing House 200,000
9 Registration Fee for Custodian 50,000
10 Registration Fee for Pension Custodian 50,000
ADMINISTRATIVE FEES
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