d

Central Securities Clearing System Plc (CSCS) operates a computerized depository, clearing settlement and delivery system for transactions in shares listed on The Nigerian Stock Exchange or any other authorized / organized Securities Trading Platform. CSCS facilitates the delivery (transfer of shares from seller to buyer) and settlement (payment for bought shares) of securities transacted on the floors of The Nigerian Stock Exchange or any other authorized / organized Securities Trading Platform. It was licensed by the Securities and Exchange Commission as an agent for Central Depository, Clearing and Settlement of transactions in the capital market.

The financial statements are prepared in accordance with International Financial Reporting Standards (IFRSs) including IAS 34 annual Financial Reporting as issued by the International Accounting Standard Board (IASB) and in the manner required by the Companies and Allied Matters Act of Nigeria and the Financial Reporting Council of Nigeria Act, 2011. Details of the accounting policies consistently applied by the Company for all periods presented in the financial statements are included in Note 4.

The financial statements are presented in Nigerian Naira, which is the functional currency of the Company. Except as indicated, financial information presented in Naira has been rounded to the nearest thousand.