On Friday 30 June 2023, there was a significant trade of shares of Central Securities Clearing System Plc (‘CSCS’ or ‘our Company’) on the NASD OTC Plc. Two major shareholders of CSCS, Artemis Limited and ZPC Leadway Insurance Prem. Coll & Invest, who previously held 16.61% (830,641,902 units) and 5% (250,000,000 units) shareholding respectively, sold their shares to FMDQ OTC Plc (‘FMDQ’). As a result, FMDQ is now a shareholder with a 21.6% equity stake in CSCS.
CSCS serves as the central securities depository and clearing infrastructure for the Nigerian capital markets. Our company plays an intrinsic role in ensuring the integrity and safety of transactions conducted in the Nigerian capital market.
CSCS expresses gratitude to its shareholders and stakeholders for their sustained interest in the company. We affirm our dedication to working towards achieving our strategic objectives of being the globally respected and leading central securities depository in Africa.
The Central Securities Clearing System (CSCS) is a Public Limited Company, with a diversified shareholder base, including the Nigerian Exchange Group, some of the largest banks in Nigeria, private equity firms, other corporate 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 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.
