By ebosele@hotmail.com –
The Central Securities Clearing System Plc (CSCS) has announced revised pricing across selected services as part of efforts to reduce transaction costs, encourage greater retail investor participation and promote innovation and liquidity in Nigeria’s capital market.
The revised pricing framework introduces targeted reductions and eliminates selected charges for investors and market intermediaries, in line with CSCS’s commitment to improving market accessibility and fostering a more efficient and inclusive capital market ecosystem.
Under the new framework, lien fees for retail investors have been reduced by 50 per cent, from 0.25 per cent to 0.125 per cent.
Similarly, nominal transfer fees for qualifying transfers between immediate family members have been reduced from 0.3 per cent to zero, while broker code creation and renewal fees have been completely removed.
CSCS has also eliminated eligibility fees payable by brokers across the exchanges serviced by the clearing and settlement infrastructure provider.
The company said the measures were designed to lower the cost of participation for investors and market operators while creating a more supportive environment for brokers, FinTechs and other market participants developing solutions aimed at broadening access to Nigeria’s capital market.
Commenting on the review, the Managing Director/Chief Executive Officer of CSCS Plc, Mr. Shehu Yahaya Shantali, said the revised pricing reflected the organisation’s commitment to ensuring that market infrastructure remained responsive to the evolving needs of investors and market participants.
“As Nigeria’s capital market continues to grow and evolve, we believe its infrastructure must continually respond to the needs of investors and market participants,” Shantali said.
He added that the review was aimed at identifying areas where CSCS could reduce friction, improve accessibility and support greater participation while continuing to provide secure, resilient and efficient infrastructure for the market.
Shantali further said the initiative formed part of CSCS’s broader responsibility to support the development of a deeper, more inclusive and innovative Nigerian capital market.
“We will continue to invest in our technology and capabilities while working closely with our stakeholders to ensure that CSCS remains responsive to the changing needs of the market,” he said.
As a critical financial market infrastructure, CSCS provides depository, clearing and settlement services that underpin activities across Nigeria’s capital market.
The company said it continues to invest in technology, cybersecurity, operational resilience and service innovation to strengthen the efficiency and reliability of the country’s post-trade ecosystem.
According to CSCS, the revised pricing is part of a broader strategy focused on enhancing the experience of investors and market participants, supporting increased retail participation, enabling innovation and contributing to the continued development of Nigeria’s capital market.
CSCS said it would continue to work with regulators, exchanges, market operators and other stakeholders to identify opportunities to improve market efficiency, strengthen infrastructure and support sustainable growth across the ecosystem.
With more than two decades of operations, CSCS serves as the Central Securities Depository for Nigeria’s capital market and has played a key role in the transformation of the sector, including the full dematerialisation of share certificates and the shortening of the market’s settlement cycle.
The company provides central depository services for equities, commercial papers, corporate bonds, sub-national bonds, selected sovereign bonds, equity-traded funds, real estate investment trusts, mutual funds and commodities.
CSCS is licensed and regulated by the Securities and Exchange Commission (SEC), with its operations governed by the Investment and Securities Act, Companies and Allied Matters Act and applicable SEC rules.
Leveraging digital technologies, the company serves institutional and retail investors as well as market participants through its web portal, online and mobile applications, chatbot, data exchange platforms and customer service channels.Alternative headline: CSCS Slashes Fees, Targets Wider Retail Participation in Capital Market
