Nigerian Exchange Ltd. (NGX) has congratulated the Central Securities and Clearing System Plc (CSCS) on its 25th-anniversary celebration, while calling for more collaboration.
Its Chief Executive Officer, Mr Temi Popoola, made the remarks during a closing gong ceremony at the Exchange, on Tuesday in Lagos, to commemorate CSCS’s 25th anniversary.
According to him, CSCS as the depository, clearing and settlement manager occupies a critical position in the capital market.
“Right from inception, CSCS and the Exchange have worked synergistically, driving up transaction volumes and boosting liquidity in the capital market,” he said.
Popoola recognised CSCS for its support for NGX’s initiatives and commended the management led by Mr Haruna Jalo-Waziri for the company’s financial performance and creation of value for shareholders despite the challenging macroeconomic environment.
“We understand that amidst the uncertainty and tough business climate, you have shown that you can propel the company to greater heights.
“On this note, we at NGX look forward to more cooperation, especially as we aim to champion the next stage of the market’s development which will involve transformational technologies like blockchain.
“We hope to continue sharing resources, working on strategies that will further deepen our market, attract the younger generation of investors and enhance wealth creation in the country,” he said.
The CEO of CSCS, Mr Jalo-Waziri, in his remarks recognised the efforts of the Exchange in starting the central clearing and settlements firm and structuring the company for consistent growth through its 25 years of existence.
He also noted the contributions of the NGX CEO and suggested different ways by which both organisations could collaborate in the coming years.
“We are optimistic that we can create more synergies to grow the market and create more value for the capital market and Nigerian economy,” Jalo-Waziri added.