CSCS wins “Capital Market Infrastructure Developer of the Year” at BAFI Awards

Central Securities Clearing System (CSCS) Plc, Nigeria’s premier capital market infrastructure provider, clinched the Capital Market Infrastructure Developer of the Year award at the 12th BusinessDay Banks and Other Financial Institutions (BAFI) Awards, held at the Lagos Continental Hotel on Friday, October 25, 2024.

This recognition underscores CSCS’s continued role in advancing the nation’s capital market through resilience, innovation, and strategic infrastructure development.

The BAFI Awards, a hallmark of excellence in Nigeria’s financial services sector, celebrate organisations and individuals making an impact across various client segments. CSCS, an annual frontrunner, has consistently earned honours for its contributions to market infrastructure, setting benchmarks for operational excellence in the industry.

Accepting the award, Haruna Jalo-Waziri, MD/CEO of CSCS Plc, emphasised that this recognition is a testament to CSCS’s commitment to innovation. “This award speaks to our dedication to strengthening Nigeria’s capital market infrastructure,” he remarked. “At CSCS, collaboration and forward-thinking solutions are the bedrock of our approach, allowing us to address evolving market needs and safeguard the market’s integrity.”

Onome Komolafe, divisional head, Business Services & Client Experience, who received the award on behalf of the company, echoed this sentiment, highlighting CSCS’s role as a cornerstone in Nigeria’s financial landscape. “CSCS’s dedication to enhancing capital market services is unwavering, and this award strengthens our resolve to consistently elevate client experiences and maintain our trusted position in the sector,” she stated.

This achievement is part of a legacy of annual accolades for CSCS, which received the Digital Transformation and Cybersecurity Advocate of the Year award in 2023, and was named Depository and Custody Company of the Year in 2022 and 2021, among other recognitions. The company’s focus remains firmly on leveraging advanced technology and building strategic partnerships to uphold its leadership in the capital market space.

Central Securities Clearing System Plc (CSCS) is Nigeria’s leading Central Securities Depository, pivotal to the nation’s capital market infrastructure. Established over two decades ago, CSCS is instrumental in transforming the Nigerian capital market through full dematerialisation of share certificates and reducing settlement cycles. The company serves as the Central Depository for a wide array of financial instruments, including Equities, Bonds, Real Estate Investment Trusts, Mutual Funds, and Commodities.

With a commitment to digital transformation, CSCS provides its services through an integrated suite of digital channels, including web platforms, mobile applications, and a customer service call centre.

Licensed by the Securities and Exchange Commission (SEC), CSCS’s operations are governed by the Investment and Securities Act of 2007 and other regulatory frameworks, ensuring robust service to its participants, institutional investors, and retail clients.