Connect with us

Business

CSCS Launches New Services to Boost Investor Experience in Capital Market

info

Published

on

IMG 2797.png

 

In line with commitment to driving innovation and supporting a more efficient and transparent capital market, the Central Securities Clearing System Plc (CSCS), has rolled out a range of new services aimed at improving investor experience, fostering inclusion, and strengthening market resilience.

The new introductions which are Joint Accounts, Premium Investor Tiers, API Access, and Expanded Data Services, reflect CSCS’s continued evolution as Nigeria’s premier market infrastructure committed to deepening the Nigerian capital market.

The introduction of Joint Accounts makes it easier for families, business partners, and co-investors to manage and monitor their investments together. This not only provides flexibility and transparency but also aligns with the growing demand for more collaborative investment management in today’s market.

With Premium Investor Tiers, CSCS is recognizing and rewarding active investors who desire specialized support and added value. The new service tier delivers a more personalized experience, ensuring that investors at every level enjoy convenience, reliability, and enhanced engagement.

CSCS’s newly launched API Access opens new possibilities for financial technology firms, brokers, and market operators to connect directly with CSCS’s systems. This enables the automation of core functions, promotes innovation, and ensures faster, more reliable services for investors and institutions alike.

These initiatives mark another important step in CSCS’s mission to building resilience of the ecosystem and enabling the sustainable growth of the market. These initiatives are anchored in technology, collaboration, and long-term value creation.

By continually investing in innovation, CSCS is helping build a capital market that works efficiently for all, from retail investors and brokers to regulators and policy makers.

Shehu Shantali, Managing Director and Chief Executive Officer of CSCS stated, “Our commitment has always been to create a seamless and secure post-trade environment that supports market growth. These new services are designed to make things easier for investors and to help stakeholders access better data, faster transactions, and deeper value across the ecosystem.”

With these enhancements, CSCS reaffirms its role as a trusted catalyst for market efficiency and sustainability, extending its leadership beyond clearing and settlement to shaping the future of financial market innovation in Nigeria.

About CSCS
The Central Securities Clearing System (CSCS) is a Public Limited Company with a diversified shareholder base, including the Nigerian Exchange Group, some of the largest banks in Nigeria, private equity firms, investment banks and other corporate and individual shareholders. With over two decades of operation, serving as the Central Securities Depository for the Nigerian Capital Market, CSCS has been pivotal to the growth and transformation of the capital market, including its audacious full dematerialization of share certificates and shortening of the settlement cycle in the 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. CSCS is licensed and regulated by the Securities and Exchange Commission (SEC). The activities of CSCS are governed by the Investment and Securities Act 2007, the Companies and Allied Matters Act 2004, and the SEC Rules.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

NCAA fines Saudi Airlines ₦6 million for alleged violations

info

Published

on

By

Nigerian Civil Aviation Authority NCAA.jpg

MTN ADVERT

The Nigerian Civil Aviation Authority (NCAA) has imposed a ₦6 million fine on Saudi Airlines for what it described as consumer-protection-related violations.

Michael Achimugu, Director of Public Affairs and Consumer Protection at the NCAA, disclosed this on Friday.

Mr Achimugu stated that the sanction became necessary after the airline failed to resolve several outstanding consumer issues, despite repeated interventions by the regulator and an extended period granted for compliance.

According to him, the NCAA had previously stepped in to support the airline in managing a situation at the Nnamdi Azikiwe International Airport in Abuja a few months ago that could have escalated into violence.

He noted that the authority had also given Saudi Airlines additional time to address pending complaints and comply with the regulator’s determinations, but the airline failed to meet its obligations.

PT WHATSAPP CHANNEL

“The Nigeria Civil Aviation Authority has sanctioned Saudi Airlines to the tune of ₦6 million for consumer protection-related infractions,” Mr Achimugu said.

He explained that the enforcement action was taken to ensure compliance with Part 19 of the Nigeria Civil Aviation Regulations (Nig. CARs) 2023, which outlines the rights of air passengers and the responsibilities of airlines operating in the country.

The NCAA expressed hope that the sanction would encourage the airline to improve its operations in Nigeria and strengthen its commitment to passenger welfare.

Mr Achimugu emphasised that passengers travelling to and from Nigeria deserve to be treated fairly and with respect by all airlines operating in the country.

READ ALSO: NCAA Championships: Ogazi shatters records, Ajayi strikes gold as Nigerians shine in Eugene

He added that while the authority would continue to support Saudi Airlines and other carriers to operate efficiently, it would not hesitate to enforce regulatory standards where necessary to protect consumers.

Saudi Airlines had yet to respond to the NCAA’s sanctions as of the time of filing this report.


Continue Reading

Business

Enterprise Life Assurance Meets Full Regulatory Capital Requirements, Boosts Liquidity

info

Published

on

By

0af22dde 5f03 412c a5bd a0e5260184a5.jpeg

BY NKECHI NAECHE-ESEZOBOR—Enterprise Life Assurance (Nigeria) Limited has announced the full remittance of its statutory deposit of N1 billion to the Central Bank of Nigeria (CBN), underscoring its robust financial health and compliance with regulatory mandates.

The Managing Director and Chief Executive Officer of the company, Nelson Akerele, disclosed this during a recent media briefing while addressing the firm’s capital positioning and compliance with the National Insurance Commission (NAICOM).

According to Akerele, Enterprise Life—which entered the Nigerian market approximately five years ago alongside peers like Heirs General and Heirs Life—has progressively built on its foundational capital structure to satisfy current regulatory thresholds.

“We started with ₦8 billion,” Akerele stated, recalling the company’s entry as one of the four entities licensed in that licensing wave. “What we have as a statutory deposit right now, as I speak, is ₦1 billion, which has been fully remitted to the designated account assigned to us.”

Beyond meeting the statutory deposit mandate, the Enterprise Life boss revealed that the company has fully satisfied its Minimum Capital Requirement (MCR).

He attributed this seamless compliance to a deliberate operational strategy that favors liquid assets over heavy fixed investments.

Unlike traditional players with massive capital tied up in real estate, Enterprise Life has maintained an agile, cash-ready balance sheet.

“We are not heavy in terms of buildings and all that; our assets are held in liquid form—in cash and cash equivalents,” Akerele emphasized. “We are an extremely liquid company.”

This cash-heavy asset strategy positions the insurer to promptly meet its obligations, match underwriting risks effectively, and settle policyholders’ claims without the delays often associated with liquidating physical property.

The announcement comes at a critical time when NAICOM continues to emphasize stricter solvency and liquidity management across the Nigerian insurance ecosystem to boost public confidence in the sector.

The post Enterprise Life Assurance Meets Full Regulatory Capital Requirements, Boosts Liquidity appeared first on Business Today NG.

Continue Reading

Trending