The Central Securities Clearing System Plc (CSCS) has announced major milestone in its digital transformation drive with the successful upgrade of its core technology platform, executed in partnership with global technology leaders IBM and Tata Consultancy Services (TCS).
The upgrade represents a significant advancement in CSCS’s pursuit of innovation, efficiency, and resilience, reinforcing its position as one of Africa’s most technologically advanced post-trade service providers.
Since adopting the TCS BaNCS platform in 2015, CSCS has leveraged technology to enhance the performance and reliability of the Nigerian capital market.
The latest upgrade, now running on the IBM Power 10 Series, marks a strategic modernization of its core infrastructure — delivering improved speed, scalability, integration, and security, while laying a strong foundation for future digital innovations.
Aligned with its vision of enabling a seamless, secure, and efficient marketplace, CSCS says the enhanced system will deliver greater value to stakeholders through faster transaction processing, enhanced transparency, advanced analytics, and stronger operational resilience.
Commenting on the development, Mr. Haruna Jalo-Waziri, Managing Director and Chief Executive Officer of CSCS, described the upgrade as a defining step in the company’s digital transformation journey.
“This strategic upgrade reflects our unwavering commitment to innovation and operational excellence. Partnering with global technology leaders like IBM and TCS ensures that we continue to deliver world-class post-trade services that meet the evolving needs of Nigeria’s capital market and its participants,” Jalo-Waziri said.
He further noted that technology remains central to CSCS’s strategy for driving market confidence and innovation.
“At CSCS, technology is not just an enabler — it is at the heart of our value proposition. This upgrade reinforces market confidence, enhances efficiency, and paves the way for investor-focused solutions that will shape the future of Nigeria’s capital market,” he added.
With this latest modernization, CSCS has strengthened the backbone of Nigeria’s market infrastructure and reaffirmed its commitment to global best practices in post-trade operations.
The company stated that the upgraded platform positions it for the next phase of digital innovation — improving system performance, deepening investor trust, and driving the continued growth, integrity, and global competitiveness of the Nigerian capital market.
