The Central Securities Clearing System Plc (CSCS Plc) on Wednesday won the capital market most coveted award for outstanding contributions to capital markets in Nigeria 2018.
The company in a statement in Lagos said that the award was organised by the Capital Finance International (CFI.co), a print journal and online resource reporting on business, economics and finance with headquarters in London.
It stated that CSCS won the award after it fulfilled CFI.co’s award selection requirements based on the initial nomination and voting by CFI.co readers, contributors and visitors to their website.
The statement noted that CSCS was shortlisted after rigorous exercise, noting that the clearing system
company won the award because of its continued response to the needs of the securities and commodities market.
The company added that “CSCS looks at the best international models when planning its businesses but insists on incorporating in its plan, features that respond to the specific needs of the Nigerian market.”
Commenting on the award, the statement quoted Haruna Jalo-Waziri, CSCS, the Managing Director and Chief Executive Officer, as saying that the company was delighted and pleased with the award. Jalo-Waziri said that the award was a testimony of the company’s consistent hard work, investment in technology and being customer focused.
He added that “the award is a call to service; to continue to deliver excellent services to the markets we serve.
“This achievement is shaped by the strength of the foundations we have set and result of consistent hard work, investment in technology and customer focused. The foundation of any great organisation such as ours is deeply rooted in technology and sterling services.”
The managing director said that the company started the year by setting a three-year strategic plan (2018 – 2020) focusing on five strategic pillars of enhanced technology, process optimisation, customer satisfaction, partnership through strategic alliances and revenue growth.
According to him, staying focused on these strategic pillars have started yielding enviable results and more to come.
Incorporated in 1992 as a Financial Market Infrastructure (FMI) for the Nigerian Capital Market, CSCS was commissioned in April 1997 and started operations in the same month and in May 2012, it became a Public Liability Company (Plc) by a special resolution.
CSCS was licenced by Securities and Exchange Commission (SEC) as a central depository, clearing and settlement agency for transactions in the Nigerian Capital Market.
The company operates a computerised system for transactions in securities in the market and facilitates the delivery and settlement of securities transactions consummated on approved Nigerian Exchanges.