Central Security Clearing System (CSCS) Plc is exploring the prospect of listing its shares on the Nigerian Exchange (NGX). The listing is part of the company’s broader strategy to solidify its position as a leading post-trade infrastructure provider.
CSCS is a Central Securities Depository (CSD) licensed by the Securities & Exchange Commission (SEC) as a Financial Market Infrastructure (FMI) to carry out clearing, settlement and depository services in the Nigerian Capital Market.
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The prospect of listing on the NGX was discussed at its 31st Annual General Meeting (AGM) held in Lagos on 9the May, 2025, where shareholders voiced critical demands for greater transparency, governance and regional integration.
CSCS Chairman, Temi Popoola, while emphasizing on the benefits of an NGX listing, noted that the decision is complex, involving careful considerations of market conditions, regulatory frameworks, and long-term strategic alignment.
“We recognise the self-evident benefits of listing, but we must balance this with our growth priorities and the need for sustainable shareholder value,” Popoola pointed out that the board is weighing various factors, including the timing and structure of a potential public offering.
As at 31st December, 2024, the issued and fully paid-up share capital of CSCS stood at 5,000,000,000 ordinary shares of N1 each. The shareholding structure was;
- Nigerian Exchange Group Plc : 43.52%
- FMDQ Holdings Plc : 21.61%
- Access Holdings Plc : 7.50%
- United Bank for Africa Plc : 5.37%
- Others with shareholdings less than 5%: 22.0%
For the 2024 financial year, he said CSCS reported robust results, including a 37 per cent jump in gross earnings to N26.1 billion and an 18.7 per cent rise in profit after tax (PAT) to N11.95 billion.
CSCS Plc earned N11.8 billion from its core activities; N16.0 million from eligibility fees, N3.9 billion from depository fees and N7.9 billion from transaction fees.
Total assets expanded by 22 per cent to N64.43 billion.
The company declared a dividend of N1.76 per share, up 17.3 per cent from the previous year, translating to a total payout of N8.8 billion.
Central Securities Clearing System Plc (CSCS) incorporated on July 29, 1992, operates a computerized depository, clearing, settlement and delivery system for transactions in securities listed on the Nigerian Exchange Limited or any other authorized organized Securities Trading Platform.
CSCS facilitates the delivery (transfer of securities from seller to buyer) and settlement (payment for bought securities) of securities transacted on the floors of Nigerian Exchange Limited, NASD OTC Exchange or any other authorized/organized Securities Trading Platform.
CSCS was licensed by the Securities and Exchange Commission as an agent for Central Depository, Clearing and Settlement of transactions in the capital market. CSCS keeps and maintains an electronic book-entry of all securities to facilitate the safekeeping and easy transfer of securities between parties during a trade.
The Company also provides other business support services, such as LIEN Services, legal entity identifier issuance, document management and collateral management, to businesses.
The Company is domiciled in Nigeria with its registered office at Nigerian Exchange Group Building, 2/4, Customs Street, Marina Lagos.
Shares of the company is currently traded on NASD, and it’s share price stood at N25. 99 as at Thursday, May 15, 2025.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
