The company MAXIFUND INVESTMENTS & SECURITIES LIMITED, was incorporated on the 16th of April 1993 as banking consultants and business advisors under the name MAXIFUND FINANCE LIMITED. We evolved into an investment company when we extended our operations to cover stock broking, investment and financial advisory services and money market operations.

We are licensed by the Nigerian Stock Exchange (NSE) and registered by the Securities and Exchange Commission (SEC) as broker dealers and investment advisers. We have been active on the trading floors of the NSE since June 2, 1998.

We are also licensed by the Central Bank of Nigeria (CBN) as a bonafide dealer on the Nigerian Treasury Bills and Other Federal Government Securities.

Our crop of professionals includes lawyers, bankers and accountants whose activities complement in producing quality services. We have done several restructuring work and advised several businesses and individuals. Our consulting professionals have carried out series of successful assignments for banks and financial institutions. We believe in providing the highest standard of services not just to acquire market share but also to keep clients’ commitment.

Our authorised share capital is N100,000,000 while N70,000,000 has been fully paid up. We maintain four Current Accounts and one Trading Account. The Trading Account is maintained by direct transfers of the net balance of our trading transactions on the trading floor of the NSE. We lodge client’s deposits in any of the Current Accounts from which our fund managers transfer of withdraw from the Trading Account.

CAPITAL MARKET
Our Capital Market activities come in three forms:

1. Regular transaction – Buying and Selling of stocks/shares for clients
2. Capital appreciation (Client’s Decision) – Buying and Selling of stocks/shares for the purpose of capital appreciation where there are neither negotiations nor management fees.
3. Capital appreciation (Broker’s Decision) – Buying and Selling of stocks/shares for the purpose of capital appreciation only. The commission is negotiable, minimum deposit is N1,000,000, there is an annual management fee charge and penalty for termination of contract being 10% of principal sum or 20% of profit (whichever is higher).

CHARGES AND FEES
For Buy Deals
Broker’s commission 2.75% of the consideration
SEC Fee 1.00% of the consideration
Contract Stamp .075% of the consideration
VAT .1375 of the consideration
Total 3.9625%

For Sell Deals
Broker’s commission 2.75% of the consideration
NSE Fee 1.00% of the consideration
Contract Stamp .075% of the consideration
CSCS Fee 0.30% of the consideration
Total 3.825%

Note:
1. Consideration is the quantity bought/sold multiplied by the price of one unit
2. Verification fee is 1.00% of the total value of shares on the date of verification or N200 whichever is higher if the     shares are not to be sold immediately.
3. Charges for transfer/transmission of shares are negotiable.

ON OUR CAPITAL MARKET ACTIVITIES
1. We give updates on transactions/accounts always and we respond promptly to any such request as often as     required.
2. Our phone lines are open for enquires and updates on transactions/accounts.
3. Contract notes are issued on every transaction
4. Receipts are issued both for cash/cheque and share certificate deposits.
5. Stock Position is available to every stock holder at the end of the month.

MONEY MARKET
We engage in money market activities in the form of:

1. Nigerian Treasury Bills of 91 days tenor.
2. Nigerian Treasury Bills of 180/365 days tenor.

These bills could be rediscounted at a rate determined by the CBN and the penalty of 0.5% is also chargeable. Payment is made less than 3 days maximum to the client.

We charge 0.5% handling charges on all investments. Note that as Special Dealers, the CBN determines the rate at which the investment is made.

The schedule of investment is usually submitted on a Tuesday before 1.30pm and it takes value on the following Thursday.

We require that clients give us one week notice if they wish to redeem their investment or we reinvest automatically on maturity.

Benefits of the Nigerian Treasury Bills
1. Upfront interest paid based on the prevailing rate less handling charges.
2. Upfront interest determined based on the prevailing rate less handling charges but held by us on 7.00% call per     annum. Pending the maturity of the investment (the rate is subject to change depending on market conditions.)
3. Upfront interest at the prevailing rate less handling charges transferred to Stock Account to be used in buying     shares as per the client’s mandate.

1. We give investment or payment advices on all transactions
2. We give photocopies or physical bills to those who demand them
3. We issue investment profiles on a quarterly basis to those clients having various investments.

NOTES

1. We do not give open cheques or cash on payments in all transactions.
2. We do not accept third party cheques.
3. We cannot be held liable for not giving photocopies of bills or the physical bills when they have not been received     by us.
4. We cannot invest or buy for a client until the cheque deposit clears into our bank account.
5. Share certificates for verification – We must have a proof of ownership to correspond with the name on the     certificate before we accept it.
6. We do not transfer stocks of a client indebted to us to another stock broking house.
7. We do not make advance payments on unsold stocks except on special arrangements e.g. a loan.
8. New clients (especially coming with share certificates for verification and sale) must be properly identified with a     Driver’s license, International Passport or National Identity Card and one(1) passport photograph submitted before     we engage in any transaction.
9. We charge for indemnity where the registrar of a company requires that we add indemnity before verification is     carried out. This payment is preceded by filling the indemnity form.