Central Securities Clearing System Plc (CSCS), has announced revised pricing across selected services as part of ongoing efforts to reduce transaction friction, encourage greater retail investor participation and support innovation and liquidity across the Nigerian capital market.
The revised framework introduces targeted reductions and the removal of selected charges for investors and market intermediaries, reflecting CSCS’s commitment to improving market accessibility and supporting a more efficient and inclusive capital market ecosystem.
Under the revised pricing framework:
Lien fees for retail investors have been reduced by 50%, from 0.25% to 0.125%;
Nominal transfer fees for qualifying transfers between immediate family members have been reduced from 0.3% to zero;
Broker code creation and renewal fees have been removed; and Eligibility fees payable by brokers across the exchanges serviced by CSCS have been removed.
The changes are designed to lower the cost of participation for investors and market operators, while creating a more supportive environment for brokers, FinTechs and other participants developing solutions that broaden access to Nigeria’s capital market.
Commenting on the review, Mr. Shehu Yahaya Shantali, the Managing Director/Chief Executive Officer of CSCS Plc, said:
“As Nigeria’s capital market continues to grow and evolve, we believe its infrastructure must continually respond to the needs of investors and market participants. This review is about identifying areas where we can reduce friction, improve accessibility and support greater participation, while continuing to provide the secure, resilient and efficient infrastructure on which the market depends.”
Mr. Shantali further stated:
“We see this as part of our broader responsibility to support the development of a deeper, more inclusive and innovative Nigerian capital market. We will continue to invest in our technology and capabilities while working closely with our stakeholders to ensure that CSCS remains responsive to the changing needs of the market.”
As a critical financial market infrastructure, CSCS provides depository, clearing and settlement services that underpin activities across Nigeria’s capital market. The organisation continues to invest in technology, cybersecurity, operational resilience and service innovation to strengthen the efficiency and reliability of Nigeria’s post-trade ecosystem.
The revised pricing forms part of a broader focus by CSCS on enhancing the experience of investors and market participants, supporting greater retail participation, enabling innovation across the ecosystem and contributing to the continued development of Nigeria’s capital market.
CSCS remains committed to working with regulators, exchanges, market operators and other stakeholders to identify opportunities to improve market efficiency, strengthen infrastructure and support sustainable growth across the ecosystem.
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.
Leveraging digital technologies, CSCS serves its participants, institutional investors, and retail investors through varying channels, including its web portal, www.cscs.ng; online and mobile applications; web chatbot; Data Exchange platforms; and customer service call center, 070 CALL CSCS—070022552727 or 01 448 0500, amongst others.
