Central Securities Clearing System (CSCS) Plc, Nigeria’s capital market infrastructure, was decorated with the Securities Services Company of the Year award at the eight edition of the reputed Banks’ and Other Financial Institutions (BAFI) Awards 2020.
The Judges’ decision, a product of a rigorous and diligent process, was announced at the event held in Lagos over the weekend, where the Divisional Head, Shared Services, Mrs. Onome Komolafe, received the award on behalf of the company.
The BAFI Awards are adjudged the most rigorous, prestigious and transparent awards programme in the Nigerian financial services industry. BusinessDay, the organizer, implements an audit-based approach in the evaluation process, meticulously reviewing each shortlisted company’s financial and non-financial achievements, commissioned customer perception surveys and analyst opinion, amongst other valuable information sources, which supports objective assessment of all shortlisted award nominees in a longitudinal study.
Speaking on the award, Mrs. Onome Komolafe, who represented the Managing Director/Chief Executive Officer, CSCS Plc, Mr. Haruna Jalo-Waziri, at the event said, “this award strengthens the self-motivation to sustainably enhance our delivery of excellent services to all market participants. We are driven by the kaizen philosophy of always doing better, as we continue to seek innovative ways of creating and delivering value for all market participants and ultimately the growing investors in the Nigerian capital market.”
Commenting further on the award, Mrs. Komolafe noted that “the Management of CSCS is humbled by the recognition that this award reflects and would like to thank the organizers, judges and more importantly the capital market participants, who have consistently and objectively distinguished us. As we dedicate this award to our loyal participants and all investors in the Nigerian capital market, we reckon this award is a clarion call to continue to do better, as today’s best can always be better tomorrow.”
“As your preferred market infrastructure, we are committed to investing in the right technologies and best talent, as we seek to sustainably create mutual value for all stakeholders whilst deepening the Nigerian capital market for inclusive economic growth”, she added.
The BAFI Awards are created to celebrate organizations, teams and individuals that have achieved excellence in the delivery of financial services across the entire the customer spectrum.
CSCS was adjudged the Continental Leader in Post-trade and Custody Services Award 2019 at the 7th edition of BAFI Awards.
The Central Securities Clearing System (CSCS) is a Public Limited Company, with a diversified shareholder base, including the Nigerian Stock Exchange, some of the largest banks in Nigeria, private equity firms, other corporates 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 the shortening of settlement cycle in the capital market.
CSCS serves as the Central Securities Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds (such as FGN Sukuk and 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.