E Mandate


Minimum Investment is USD2,000.00

A fee of higher of USD100.00 per Ticket or 0.035USD for each unit of shares purchases or sold is applicable.

Trading Hours: Orders are exclusively accepted from 2:00 p.m. to 5:00 p.m. West African Time (WAT). This timeframe aligns with 9:00 a.m. to 12:00 p.m. Eastern Daylight Time (EDT) in New York and 8:00 a.m. to 11:00 a.m. Eastern Standard Time (EST). Order received outside these hours will be filled the next day based on best efforts.

Investors shall assume the risks and rewards associated with trading on the New York stock exchange.

All transactions and payments are made in Foreign Currency of investment.



The applicant applies for the investment indicated herein subject to the following:

I/We guarantee that all information herein is complete and correct.

All transactions, benefits and payments are made in foreign currency of investment.

That my/our investment objective is as detailed in my/our investment Policy Statement (IPS), incorporated herein by reference. That my/our Investment Policy Statement herein details the risk and returns I/We hereby acknowledge for this investment.

I/We accept full responsibility for informing MWML of any changes in current identification information provided (e.g. address change, surname change, contact details, etc.). If any details change, I/We will provide MWML with new certified proof of identity and a utility bill, not older than 3 months.

In terms of the Money Laundering (Prohibition) Act (2011), I/We confirm that the funds with which any payment is or will be made to MWML, in terms of this investment, are derived from a lawful source. In addition, I/We are willing to answer any questions about the origin of such funds and to provide additional information as and when it may be required by MWML or any of its Regulatory Agencies.

We understand that information in this application may be recorded electronically with MWML in addition to physical records. Such records will form the record of this investment for all purposes and may be used as evidence at any proceedings.



Meristem Securities Limited (‘’Meristem’’) equity reports and its attendant publications are prepared based on publicly available information and are meant for general information purposes only and it may not be reproduced or distributed to any other person. All reasonable care has been taken to ensure that the information contained herein is not misleading or untrue at the time of publication; Meristem can neither guarantee its accuracy nor completeness as they are an expression of our analysts’ views and opinions.

Meristem and any of its associated or subsidiary companies or the employees thereof cannot be held responsible for any loss suffered by relying on the said information as this information as earlier stated, is based on publicly available information, analysts’ estimates and opinions and is meant for general information purposes and should not be construed as an offer to buy or sell or a solicitation of an offer to buy or sell securities or any financial instruments. The value of any investment is subject to fluctuations, i.e. may fall and rise. Past performance is no guide to the future. The rate of exchange between currencies may cause the value of investment to increase or diminish. Hence investors may not get back the full value of their original investment. Meristem Securities is registered with the Securities and Exchange (SEC) and is also a member of The Nigerian Exchange Group (The NGX). Meristem Securities’ registered office is at 20A Gerrard Ikoyi, Lagos, Nigeria. Website: www.meristemng.com; Email: [email protected]. © Meristem Securities Limited 2024.