March 2018
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FSDH Merchant Bank


FSDH Merchant Bank Limited formerly known as First Securities Discount House Limited is a renowned subsidiary of the FSDH Group. Incorporated in 1992, the bank is one of the first merchant banks to be awarded a licence in Nigeria this new era. For over two decades, we have prided ourselves in the ability to deliver cutting edge financial services to our various clients, thereby assisting them in their quest to create long term sustainable wealth for themselves and their businesses. In 2008, the Central Bank of Nigeria – CBN, revoked all Universal Banking licenses, categorizing banks into commercial, merchant and specialized banks, further categorizing commercial banks into International, National and Regional. At FSDH, we took this change as an opportunity to further expand the scope of our operations, whilst maintaining the core activities and efficiency our customers have come to know us for. We immediately applied for a Merchant Banking licence from the CBN which was granted in October 2012. Since then, we have not looked back in our quest to ensure the provision of a broad range of advisory, investment-related services and corporate financing to our clientele nationwide. All our activities have created huge opportunities for real growth not only for our clients, but the Nigerian market as a whole. As the Nigerian economy becomes more sophisticated and specialized, FSDH Merchant Bank is constantly evolving to meet the diverse needs of our clientele. The Bank offers a wide range of products to all investing clients at various periods depending on their needs. We are specific about our clients so we are committed to creating products that suit their needs at every point in time, while they are able to access them in a seamless manner. Our Culture of Customer Orientation, High Performance, Image Building, Collaboration and Learning remain our driving force. The name may have changed but the soul of our organization remains intact.

FSDH Securities Ltd


Formerly known as Counters Trust Securities Limited – CTSL, FSDH Securities Limited was incorporated in July 1995 as a wholly owned Nigerian equity trading company to provide a wide range of capital market solutions to its clients. FSDH Securities Limited is a subsidiary of FSDH Merchant Bank Limited. We are a member of the Nigerian Stock Exchange –NSE and Licenced by the Securities and Exchange Commission – SEC, as a Broker / Dealer and Issuing House. For the past eighteen years, we have ridden on the vast experience and expertise of our financial service professionals to emerge a key player in the primary and secondary segment of the Nigerian equities market. We strive for professionalism, integrity, quality, safety and reliability at all times and these have endeared us to our clients who rely on our apt financial advisory services driven by strong research capabilities to create value for their investments.
Our Services:

  1. Equity Dealing

  2. Research

  3. Analysis of primary market issues

  4. Capital Market Advisory Services

  5. Financial Advisory/Issuing House Services

Pensions Alliance Ltd.

Pensions Alliance Limited is a joint venture between First Securities Discount House Limited – FSDH and African Alliance Insurance Company Limited. We were incorporated on April 14, 2005 to manage and administer retirement savings contributions of employees in Nigeria as a result of the Pension Reform Act of 2004. As a licenced Pension Fund Administrator with over 10 years professional experience in Pension Funds Administration, we manage a client base of over 350,000 and have UBA Pensions Custodian Limited as our custodian.