CSCS optimises investor onboarding services to improve market access, efficiency

The Central Securities Clearing System Plc (CSCS) has enhanced its investor onboarding processes aimed at improving efficiency, strengthening service delivery, and enhancing the overall experience for participants in the Nigerian capital market.

CSCS serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds (such as the FGN Sukuk and the FGN Savings Bond), Equity-traded Funds, Real estate Investment Trusts, Mutual funds and Commodities.

The enhancements are designed to support faster account creation, improve the processing of investor data, and enable more seamless interaction across market participants, including exchanges, brokers, registrars, commercial banks, fintech companies, and other operators.

As part of these improvements, CSCS is implementing upgrades to its Account Opening System (AOS), alongside additional services and support to ensure stakeholders can transition smoothly and benefit from a more efficient onboarding framework.

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The enhancements will also provide clearer processes for obtaining and retrieving Clearing House Numbers (CHN), improved system performance, and better integration across the market ecosystem.

Stakeholders will continue to receive timely updates on system enhancements, operational changes, and any scheduled downtime as the initiative progresses.

Speaking on the initiative, Shehu Yahaya Shantali, Managing Director/Chief Executive Officer of CSCS said, “These enhancements reflect our continued commitment to improving the efficiency of the Nigerian capital market and delivering better service to our stakeholders. By strengthening our onboarding processes and support framework, we are enabling easier access to the market and positioning it for sustained growth.”

Tobe Nnadozie, Divisional Head, Business Technology & Digital Innovation, CSCS also highlighted the operational impact saying, “The enhancements to our onboarding systems are focused on delivering greater speed, reliability, and scalability. Beyond the technology, we are also ensuring that stakeholders have the necessary support and guidance to navigate these improvements seamlessly.”

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.