CHN in the context of the Nigerian Capital Market stands for Clearing House Number. It's a unique identifier assigned to each investor.
Here's a breakdown:
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Purpose: The CHN serves as a unique identification for investors operating within the Nigerian Capital Market. This is crucial for tracking and managing investor activities related to stock trading and other investment activities.
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Context: It's important to note that the provided reference specifically mentions the Nigerian Capital Market. "CHN" may have different meanings in other banking or financial contexts, or in other countries.
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Obtaining a CHN: An individual investor cannot directly obtain a CHN. They must first open an account with a stock brokerage firm. The brokerage firm then facilitates the opening of a Central Securities Clearing System (CSCS) account, which is likely where the CHN is assigned and managed.
In summary, the Clearing House Number (CHN) is a unique identification number for investors in the Nigerian Capital Market, obtained through opening an account with a stock brokerage firm, which will then facilitate opening a CSCS account.
