By Moses Ebosele, ebosele@hotmail.com —
The Board of Directors, Central Securities Clearing System (CSCS) Plc has renewed the appointment of Mr Haruna Jalo-Waziri as the Managing Director/Chief Executive Officer.
A statement sent to City Business News on Tuesday explained that the reappointment is for another four years, effective November 1, 2021.
The statement quoted Chairman of CSCS, Mr Oscar Onyema as saying Jalo-Waziri’s reappointment followed a successful four-year term of his outstanding performance and exemplary leadership style.
“The board is impressed with Jalo-Waziri’s performance at CSCS over the past four years and it has been exciting working with the executive management team under his leadership.
“More so, we believe that the foundation the team has built, positions the company for its next growth phase. That is why we are aiming to consolidate on our gains and diversify the business for sustainable growth.
“On behalf of the board, I congratulate Jalo-Waziri on this reappointment, which reflects our vote of confidence and greater expectations from him in creating value for shareholders and broader stakeholders of CSCS,” Onyema said.
Commenting on his reappointment, Jalo-Waziri thanked the board for the confidence reposed in him.
“I would like to thank the Board of Directors for this reappointment.
It’s a vote of confidence in my team, whose tenacity and ingenuity are my greatest motivation and confidence.
“I am tremendously proud of the talent pool we have built here at CSCS. As we set out to diligently execute on our next growth strategy,
“I am super excited at the future of this great institution and look forward to deepening our partnership with different stakeholders for mutual prosperity.
“I would continue to count on the support of our apex regulator, the Securities and Exchange Commission; our board of directors; participants and other stakeholders in deepening the Nigerian capital market for our mutual growth.
“It has been an excitingly challenging journey and the grass keeps getting greener at every turn,” he said.
Jalo-Waziri took over leadership of CSCS in 2017 from the Interim Chief Executive officer, Mr Bola Adeeko, with a clear mandate to drive the next phase of CSCS’s strategic journey.
Over the last four years, the company has seen a major boost in its revenue base as well as built strong strategic alliances with other financial market entities across Africa.
With the oversight of the board and a fully dedicated management team, Jalo-Waziri led the growth of CSCS’s profit by 18 per cent CAGR and delivered a 20 per cent return on average equity in 2020 financial year, in spite of the pandemic.
Jalo-Waziri was previously the Executive Director, Capital Markets at the Nigerian Stock Exchange (now Nigerian Exchange Group Plc), where he led cross-functional teams responsible for the recovery of primary and secondary markets between 2012 and 2017.
He co-managed a number of initiatives at the Exchange, including the launch of the Premium Board, strategic partnership of the London Stock Exchange with the Nigerian Stock Exchange and development of the Nigerian Savings Bond, Sukuk Bond and Green Bond, amongst several other market-wide initiatives.
He was at different times Chief Executive Officer of UBA Stockbrokers Limited and UBA Asset Management Limited, both subsidiaries of United Bank for Africa Plc. He led the transformation of both businesses from being loss-making entities into sustainably profitable businesses, ranking top-5 in their respective segments. In the course of his career, he led the Corporate Finance practice of Afrinvest West Africa (formerly Sectrust) and was the Chief Investment Officer of First Alliance Pensions (now part of ARM Pensions). Haruna’s career traversed the Securities and Exchange Commission and Kakawa Asset Management Limited.
Jalo, a successful business leader and a seasoned executive, with a career spanning over twenty-five years in the Financial Markets. His experience covers Investment Banking and Investment Management, Pension Administration, Securities Trading, Custody and Settlement Services, as well as Capital Market Regulation. An economist and chartered stockbroker, he represents the World Forum of CSDs on the operating committee of the International Securities Services Association, Switzerland. Jalo is an alumnus of prestigious institutions, including the Lagos Business School and Venture Capital Institute, Americas.
