By Peter Egwuatu
The Central Securities Clearing System, CSCS Plc says it will continue to prioritise technology-driven innovation to strengthen Nigeria’s capital market infrastructure and enhance the country’s global competitiveness.
Managing Director/CEO, Haruna Jalo-Waziri, stated this in an interview with select journalists, noting that sustained investment in automation, cybersecurity, and advanced data systems has positioned CSCS and the broader market among the most efficient in Africa.
Jalo-Waziri said technology has fundamentally reshaped how the organisation engages with market stakeholders, enabling faster transaction processing, improved transparency, and more collaborative interactions across the ecosystem.
“Today, our interactions are faster, more transparent, and much more collaborative than ever before,” he said. “Brokers and market operators can now access real-time information, reconcile accounts, and resolve issues with significantly improved turnaround time.”
According to him, over 95 per cent of CSCS’s processes are automated, reducing manual interventions and human error, while enhancing auditability. He added that the organisation’s cybersecurity framework and automated risk engines have reinforced market confidence and strengthened the integrity of post-trade operations.
Highlighting recent upgrades, Jalo-Waziri described the deployment of the IBM Power 10 Series as a “major leap,” enabling faster processing speeds, improved platform stability, and greater scalability to support higher transaction volumes. He noted that the transition was executed seamlessly.
“CSCS has also revamped its digital platforms, introducing cleaner interfaces and segment-specific portals for custodians, brokers, issuers, registrars, and investors. Feedback from stakeholders, he said, has been “very encouraging,” with users reporting better navigation and more responsive systems”, he said .
Looking ahead, Jalo-Waziri said technology will define the organisation’s strategic direction over the next decade, with a focus on automation, predictive analytics, digital assets, and cross-border integration. The MD said CSCS is investing heavily in staff training and change management to ensure a smooth transition as digital transformation accelerates.
On cybersecurity readiness, he stressed that CSCS remains vigilant: “Cybersecurity is not a destination; it’s a continuous journey. Bad actors collaborate, so we must collaborate as well.” He referenced the company’s ISO 27001 and ISO 22301 certifications, as well as partnerships with regulators and the Office of the National Security Adviser (ONSA). CSCS also holds an annual cybersecurity conference to track emerging risks.
Jalo-Waziri disclosed that many initiatives are already underway, including the recently completed transition to T+2 settlement for equity-like instruments. He projected a move to T+1 by April 2026 and ultimately T+0, or instantaneous settlement. CSCS also plans to launch a mobile app with enhanced analytics in 2026, while preparing for new asset classes introduced under the ISA 2025, including digital assets.
He noted strong market uptake of CSCS’s digital document management service, which organisations value for its security and reliability. He emphasised the centrality of partnerships in CSCS’s strategy, citing collaborations with exchanges, clearing houses, fintechs, custodians, and global bodies such as ISSA, AMEDA, and the World Forum of CSDs. He added that CSCS is embedding sustainability into its corporate strategy, supporting governance excellence, social impact, and environmentally responsible finance.
Jalo-Waziri reaffirmed his long-term vision: “My goal is for CSCS to remain at the forefront of market innovation — locally and across Africa. The next phase is about speed, scale, and global competitiveness.”
He said stakeholders should expect deeper automation, real-time data capabilities, a broader range of asset classes, and expanded regional settlement services as CSCS positions itself as a resilient and globally respected post-trade infrastructure.