This means that in theory you can deal much faster because there is no need to supply certificates as evidence of ownership, and for signature verification by the registrars.
We'll then make a note of the lost or stolen certificate and send you a letter of indemnity. In signing and returning this indemnity, you are confirming that if the lost share certificate subsequently comes to light, you will return it to us to be cancelled. You are also required to guarantee that the company, in which you are a shareholder, will not be liable for any loss as a result of issuing the duplicate certificate.
In most cases, you'll need to pay an administration fee before we can send you a new share certificate. At the moment, the charge is N1,000.00 (including VAT). This is because we have to do extra work to make sure that the process is as secure as possible.
To protect your company, the letter of indemnity must also be guaranteed by a bank or an insurance company listed on The Nigerian Stock Exchange. This is sometimes called 'countersigning' or 'joining in' an indemnity. Your bankers or insurers may offer this service but could charge you a fee.