CSCS PLC functions as the Central Securities Depository (CSD) for all securities transacted in the Nigerian Capital Market. As such, CSCS Plc keeps and maintains an electronic book-entry record of all securities including shares, bonds, treasury bills e.t.c, to facilitate the safekeeping and easy transfer of securities between parties during a trade.
Before the establishment of CSCS Plc, certificates issued for the trade of securities were exposed to duplicity, forgery and loss encouraging black market trade of securities. CSCS Plc requires all share certificates are dematerialized (turned to electronic format) and stored for efficient monitoring and management during trade.
Shareholders who still have physical share certificates are therefore advised to visit their stockbrokers to initiate the process of dematerializing their share certificates.