By Azeez Quadri 
You cannot open a CSCS account by yourself. Also, you cannot generate a CHN and CSCS account number on your own through the CSCS portal. You have to register with a registered stockbroking firm. After passing the stockbroker’s KYC process, a CSCS account number and CHN will automatically be generated for you.
In most cases, this takes just a few hours. The CSCS account number and Clearing House Number (CHN) details will be communicated to you through your registered email address.
If this is your first time buying shares or investing in stocks, you will definitely hear about a CSCS account and CHN. You need them when investing in stocks.
What is CSCS?
CSCS stands for Central Securities Clearing System. It is the central depository for equities, stocks, bonds, and all forms of stock-related investments. Licensed by the Securities and Exchange Commission (SEC), CSCS plays a crucial role by serving as the electronic storage centre for all shares owned by Nigerians.
It does this by holding all stocks in digital form, thereby putting an end to the manual paperwork of the 1990s.
What is a CSCS Account Number?
A CSCS Number is a unique identification number assigned to your account for tracking your investments, such as shares, bonds, and other securities holdings. You cannot have two CSCS account numbers.
How does CSCS work?
When you buy shares or an Initial Public Offering (IPO), like the ongoing Dangote Refinery Petroleum Shares, CSCS ensures that the shares are allocated to you with a specific number assigned for easy tracking.
In the past, investors had to fill out paperwork and travel long distances to keep track of their stocks, and many even lost track entirely. CSCS has simplified this process. For instance, when you buy shares, CSCS registers them directly in your name.
Even if your stockbroker is delisted by the Nigerian Exchange (NGX), your stocks remain safe and secure. Its operations are governed by the Investments and Securities Act 2007, the SEC Rules, and the Companies and Allied Matters Act.
Above all, your stockbroker generates the CHN from CSCS and associates it with your name.
What is a CHN?
CHN stands for Clearing House Number, which is the master identification number associated with each investor on the Nigerian Exchange (NGX). Your CHN can be likened to a bank account number that contains your essential details. It can link all your stocks across different brokers.
For instance, if you bought shares through Stanbic IBTC Stockbrokers, CardinalStone Securities, and Chapel Hill Denham, you would use one single CHN, not different CHNs for different stockbrokers, even if you bought through 50 different stockbrokers.
Can I get a CHN by myself?
Just like the CSCS account number, you cannot get a Clearing House Number (CHN) by yourself directly from the Central Securities Clearing System. You have to go through a stockbroker.
You can never bypass a stockbroker to get a CHN.
Methods of getting a Clearing House Number in Nigeria
Register with a licensed stockbroker in Nigeria. The stockbroker handles your application via KYC, then generates and assigns a CHN to you.
If you attempt to buy stocks on fintech apps such as PiggyVest, Bamboo, or other digital payment apps like MoniePoint, they will generate a CSCS account number and assign a CHN to you.
How can I find my misplaced CHN details?
If you bought shares in the capital market in the past, a CHN has already been assigned to you. If you cannot find it, here are the ways to retrieve your CHN details:
Check the registered email address associated with your stocks. The details should have been sent to you, or you can check your SPAM folder.
You can attempt to retrieve your CHN by dialing the CSCS USSD code *7270#, though please note the USSD code was not working at the time of publication.
You can also check it through fintech platforms such as Bamboo, Cowrywise, etc. Check the dashboard inside your app and you will see it there.
Contact your stockbroker. They will need your email address and phone number to track down your CHN.