We Could Not Have Made It This Far Without You!

Esteemed Stakeholder,

What an interesting year 2022 has been! As we draw the curtain on the year, it is worthwhile to look back to admire all the twists and turns we maneuvered together; and whilst some people cannot wait to kick the dust off their shoes (and in many cases, rightly so), I believe every experience makes us better and more prepared for future success(es). And as such, I would like to sincerely thank you for your invaluable partnership with Central Securities Clearing System Plc (“CSCS”) through what could be characterized as “the third link of a chain of years to be remembered!”.

There was hardly a dull moment through 2022, with geopolitical tensions like the Russia-Ukraine debacle on one side of the coin and global economic policy rebalancing, aimed at taming historically high inflation, on the other side. The recent intention to default by the Ghanaian government on Eurobond coupons also heightens investors’ risk-off sentiment on African markets, despite compelling fundamentals of the regional economies. The domino variables have been so overwhelming, especially in our domestic market – Nigeria, where we continue to grapple with a host of monetary and fiscal changes, amidst increasing macro and political uncertainties.

Whilst the odds appear inundating, the stakes are high, with fast changing investor expectations. Nonetheless, we are confident that with YOU, as our Partner, we would continue to cross the hurdles, with admiration from the global markets’ community. Through our collaborations, we will always find solutions to the most daunting challenges and with our partnership, we will remain audacious in creating value for investors and leading the path for the growth of Nigerian Capital Market and the broader economy. As we continue to enhance our capabilities, we commit to delivering best-in-class depository, clearing and settlement services to the Nigerian financial market. More importantly, with YOU, our collective strength would be unparalleled!

With concerns that the global economy may once again slip into recession in the year ahead, investor risk sentiment is expected to continue to wane, reinforcing our commitment to enhancing client experience across our service channels, in addition to our renewed focus on innovation for value added offerings. Being a utility for the market, as always, we would count on your committed partnership to deliver exceptional new experiences for investors, as we collaborate towards achieving our common goal of creating new opportunities and enhancing value accretion to investors in the Nigerian financial market.

As we relish our shared and respective prosperity in the year, I would like to reassure you that my colleagues and I, at CSCS, will remain your trusted and dependable ally in the years ahead, as always. I would continue to count on your patronage and sincere collaboration, just as you have admirably done over the past twenty-five years of our operations. Notwithstanding the macroeconomic outlook, I remain optimistic that our partnership and resolute commitment to mutual prosperity would sustain the growth trajectory of the Nigerian Capital Market.

Please enjoy the fun of the festive season, even as we take utmost care and responsibility for ourselves and our communities.

Wishing you the very best in the New Year!

Sincerely,
Haruna Jalo-Waziri