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CSCS wins CFI.co Outstanding Contribution to the Capital Markets – Nigeria 2018 Award

CSCS wins CFI.co Outstanding Contribution to the Capital Markets – Nigeria 2018 Award

Lagos, September 26, 2018 – The Central Securities Clearing System Plc (CSCS Plc) has won the capital market most coveted award – Outstanding Contribution to the Capital Markets in Nigeria 2018 organised by the Capital Finance International (CFI.co).

CFI.co, headquartered in London, is a print journal and online resource reporting on business, economics and finance.

CSCS, having fulfilled all the CFI.co’s award selection requirements and based on the initial nomination and voting by CFI.co readers, contributors, subscribers, visitors all over the world to their website, CSCS was shortlisted and having gone through the rigorous exercise, the Judging Panel reviewed and declared CSCS as the winner of the prestigious award of Outstanding Contribution to the Capital Markets in Nigeria 2018.

According to the CFI Judging Panel, “CSCS continues to respond efficiently and faithfully to the needs of the securities and commodities market and has a proud record of providing sterling services to the capital markets in Nigeria. CSCS looked to the best international models when planning its business but insists on incorporating in its plan, features that respond to the specific needs of the Nigerian market”.

The Judging Panel further stated that CSCS “takes its corporate governance responsibilities very seriously and constantly seeks out ways to improve. CSCS, a most innovative company, is very keen to harness technological developments in support of the services it offers. This is a very well-financed and managed firm that is moving from strength-to-strength”.

Commenting on the award, the Managing Director and Chief Executive Officer of CSCS, Mr. Haruna Jalo -Waziri said he was delighted and pleased with the award as it is a confirmation and a testimony of consistent hard work, investment in technology and being customer focused.

According to Mr. Jalo-Waziri, “the award is a call to service; to continue to deliver excellent services to all the markets we serve. This achievement is shaped by the strength of the foundations we have set. It is as a result of consistent hard work, investment in technology and being customer focused. The foundation of any great organization such as ours is deeply rooted in technology and sterling services. For us at CSCS, customer service is not a department or unit, it is an attitude”.

Speaking further, Mr. Jalo-Waziri said “we began the year by setting a three-year strategic plan (2018 – 2020) focusing on five strategic pillars: enhanced technology, process optimisation, customer satisfaction, partnership through strategic alliances, and revenue growth. Staying focused on these strategic pillars have started yielding enviable results and more to come”.

About CSCS Plc.

The Central Securities Clearing System Plc (CSCS Plc) was incorporated in 1992 as a Financial Market Infrastructure (FMI) for the Nigerian Capital Market. It was commissioned in April, 1997, and started operations in the same month. In May, 2012, CSCS became a Public Liability Company (Plc) by a special resolution.

CSCS is licensed by the Securities and Exchange Commission (SEC) as a central depository, clearing, and settlement agency for transactions in the Nigerian Capital Market. It operates a computerised system for transactions in securities in the market.

CSCS facilitates the delivery and settlement of securities transactions consummated on approved Nigerian Exchanges. It enables securities to be processed in electronic book-entry form, speeding up the transaction period. It also provides ancillary services such as the Electronic Document Management Services, collateral management amongst others.

The company has made visible strides in the Nigerian Capital Market and continues to respond to the needs of the securities and commodities market to enhance transparency and swift settlement of transactions.

About CFI.co

CFI.co is a print journal and online resource reporting on business, economics, and finance. The journal recognises that the traditional distinction between emerging and developed markets is now far less meaningful as world economies converge. Headquartered in London, the world’s most multicultural city, CFI.co covers and analyses the drivers behind that change. Combining the views of leading multilateral and national organisations with thought leadership from some of the world’s top minds – CFI.co’s dedicated editorial team ensures that readers better understand the forces influencing and reshaping the global economy.

About the CFI.co Awards Programme

Each year, CFI.co seeks out individuals and organisations that contribute significantly to the convergence of economies and truly add value for all stakeholders. Reporting from frontlines of economies on the move, CFI.co realises that best practice is to be found throughout the world. The Awards Programme aims to identify and reward excellence wherever it is found. The programme aims to inspire others to further improve their own performance.

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