How to Withdraw Your Profits from the Nigerian Stock Market (Complete Guide)

You’ve bought shares, watched your portfolio grow, and now you’re ready to enjoy the fruits of your investment. But many Nigerians still ask: “How do I sell my shares and withdraw the money?”

This post explains how to safely and legally withdraw profits from the Nigerian stock market. Whether you’re using a stockbroker or an online trading app, the steps below will help you cash out without confusion or delay.

1. Understand Where Your Shares Are Stored

When you buy stocks in Nigeria, they are held in a secure digital account with the Central Securities Clearing System (CSCS). Each investor has a unique CHN (Clearing House Number), which acts like a bank account number for shares.

Your broker (e.g., Meritrade, Afrinvestor, or ARM) manages this account and can help you sell the stocks whenever you’re ready.

2. Decide What You Want to Sell

Log in to your stockbroker’s platform and review your holdings. Choose the number of units you want to sell. You can sell:

Part of your shares (e.g., 1,000 out of 5,000)
All your shares in a particular company

Be strategic. Selling too early can cost you future gains. If unsure, hold your best-performing stocks and sell only the ones you no longer believe in.

3. Place a Sell Order

Once you’re ready, submit a sell order through your broker’s app or portal. You’ll need to:

Select the stock you want to sell
Enter the quantity
Choose a market price or set a limit price
Submit the order

Most Nigerian brokers process trades within 24–48 business hours. Your shares will be sold once a buyer matches your asking price on the Nigerian Exchange (NGX).

4. Wait for Trade Settlement (T+2 Rule)

After the shares are sold, the money doesn’t land in your account immediately. The NGX operates on a T+2 rule—which means the trade settles two working days after execution.

So, if you sell on Monday, your funds will be available by Wednesday (excluding weekends and public holidays).

5. Withdraw Funds to Your Bank Account

Once the funds settle in your brokerage wallet or cash account, you can request a withdrawal to your linked Nigerian bank account.

Most brokers offer these withdrawal options:

Direct bank transfer
Bank alert via NIBSS
Online wallet withdrawal (for fintech brokers)

Confirm your bank details are up to date before initiating the transfer. Some brokers charge a small withdrawal fee (₦50–₦200), while others process it for free.

6. Confirm and Track Withdrawal

After requesting a withdrawal, check your email or SMS for confirmation from your broker. Funds typically arrive within 24 hours—but can take up to 48 hours during high-volume days.

If it delays longer, contact your broker’s customer care with your CHN and transaction ID.

Bonus Tip: Tax on Withdrawals?

As of 2025, capital gains from shares are tax-exempt in Nigeria under the Companies Income Tax Act—meaning you don’t owe taxes when you sell for profit.

However, some brokers may deduct regulatory charges (like NGX fees, SEC levies, and VAT) automatically. These are standard and transparent in your trade summary.

Common Withdrawal Mistakes to Avoid

Wrong bank details: Always double-check your account info
Withdrawing before settlement: You can’t withdraw until T+2
Delaying withdrawals indefinitely: Some brokers clear inactive accounts after years of no activity

Learn How to Manage the Full Investment Cycle

Buying shares is just one part of the game. Managing them and withdrawing profits correctly is just as important. Many Nigerians are learning how to handle the full investment cycle—from account creation to selling stocks—with the SASIM Masterclass.

This course shows you how to:

Open a CSCS & CHN account step-by-step
Choose high-performing stocks with 99% accuracy
Know when to sell and how to withdraw funds

If you’re tired of relying on guesswork or secondhand info, SASIM is a complete beginner-to-expert roadmap tailored for Nigerians.

Final Thoughts

Withdrawing profits from the Nigerian stock market is simple once you understand the system. Sell your shares, wait for settlement, and transfer the funds—just like a normal bank transaction.

Whether you’re planning to reinvest or use the profits for personal goals, always keep good records and stay informed. Investing is not just about buying—it’s about managing your money wisely from start to finish.

Ready to learn how to master the process from Day 1 to withdrawal? Start here with SASIM.

How to Stay Rich in Nigeria

How to Withdraw Your Profits from the Nigerian Stock Market (Complete Guide)