The Central Securities Clearing System (CSCS) Plc., a significant Financial Market Infrastructure (FMI), was incorporated on July 29, 1992 as a Private Limited Liability Company and commenced operations on April 14, 1997 with core business objects centered on being the Depository, Clearing and Settlement Company for listed and traded securities for the Nigerian Capital Market. Following the resolution passed by members at the Annual General Meeting on May 16, 2012, the company changed from a Private Limited Liability to a Public Liability Company (PLC). The re-registration of the company was finalized at Corporate Affairs Commission (CAC) and a new Certificate of Incorporation dated August 10, 2012 was issued.
CSCS also acts as sub-registry for Federal Government of Nigeria (FGN) Bonds, State and Corporate Debt instruments. It is equally a dependable facilitator of the clearing and settlement of Bonds and money market instruments traded Over-The-Counter (OTC) markets (on NASD Plc. and FMDQ) and on the floor of NSE. In 2007 and 2009, Central Bank of Nigeria (CBN) appointed CSCS as the clearing and settlement agent for OTC transactions in Nigerian Treasury Bills (NTBs) and Commercial Papers (CPs) and Bankers Acceptances (BAs) respectively.
The business of CSCS revolves around Data Security and Management. We are poised to drive our deliverables both for current and future products and services to the various markets considering our core values while diversifying into new areas that would replicate our successes in the Nigeria capital market in other sectors of the economy.