New · Long-term portfolio
Steady growth, on expert advice — never quick bets.
Alongside our own businesses, members may agree to hold a spread of quoted company shares, Federal Government bonds and treasury bills, and SEC-registered funds. Members approve the investment policy; the Board works within it.
Held for the long term
Normally for at least 3 years. The aim is steady long-term growth and income for members, not quick profit.
Never allowed
- Borrowing to invest
- Derivatives or futures
- Currency trading
- Crypto
- Quick in-and-out trades
No Board member, officer, manager or adviser may earn commission or any personal benefit from portfolio dealings.
- ≤ 20%of the Society’s total fundscan be held in the portfolio.
- ≤ 10%of the portfolio in one companyso no single company can sink it.
- Advice firstEvery trade needs written advice from an independent SEC-registered adviser.
- Our nameHeld through the Society’s own CSCS account and a registered custodian. Never in a person’s name.
- Never touchedThe withdrawal reserve, the legal reserve fund and joining fees.
- QuarterlyHoldings and value on your dashboard, checked by the Audit Committee.
Clause 13A in plain words
- Who decides
- Members approve a written Investment Policy at a general meeting: the aims, the kinds of investment allowed, the limits and the level of risk. The Board decides individual investments within it. Anything outside the policy needs a general meeting.
- Advice first
- No investment is bought or sold without prior written advice from an independent adviser, fund manager or stockbroker registered with the SEC. The adviser must not be connected with any Board member or VEKAT unless members approve.
- What it can hold
- Shares listed on the Nigerian Exchange or another recognised exchange, Federal Government bonds and treasury bills, and SEC-registered unit trusts or mutual funds.
- Safekeeping
- Held in the Society’s own name through a CSCS account and an SEC-registered stockbroker or custodian — never in the name of a person, Board member or the manager.
- Reporting
- Value and holdings reported to members every quarter on the dashboard, reviewed by the Audit Committee, and shown in the audited accounts.
- Income
- Dividends, interest and gains are part of the Society’s net surplus and shared like any other profit.
The limits shown are proposals in the draft bye-laws, for members to decide. The value of investments can go down as well as up, and no return is guaranteed. The portfolio starts only after members approve the investment policy.
Abroad and at home, we build together.
Register in about ten minutes on your phone. Officers review within 2 working days and message you on WhatsApp.