The Nations’ capital market attained a new height in the custodian of share certificates of quoted companies as the Central Securities Clearing System, CSCS Plc, hits 100 per cent of dematerialisation of share certificates.
Full dematerialization is the complete elimination of existing physical share certificates in the Nigerian capital market and putting to an end the issuance of new share certificates. General Manager, IT & Operations of the CSCS Plc, Mr. Joseph Mekiliuwa, said “As at today, we have reached 100 per cent dematerialisation of share certificates in the Nigerian capital market.”
Explaining further on how the CSCS achieved the complete dematerialisation, he said “It was a journey that started over 10 years ago. But when the new management of the Securities and Exchange Commission, SEC came on board they intervened and ensured that it was achieved completely.”