THE Central Securities Clearing System Plc (CSCS), Nigeria’s leading capital market infrastructure, has announced a major technological milestone with the successful upgrade of its core post-trade system, in partnership with global technology giants IBM and Tata Consultancy Services (TCS).
The upgrade, which runs on IBM’s latest Power 10 Series infrastructure, marks a significant advancement in CSCS’s ongoing digital transformation drive, enhancing system speed, scalability, integration, and security. It also positioned the company among Africa’s most technologically advanced post-trade service providers.
CSCS, which first adopted the TCS BaNCS platform in 2015, said the modernization reflects its strategic focus on innovation, resilience, and operational efficiency. The enhanced infrastructure is expected to deliver faster transaction processing, improved transparency, and greater data analytics capabilities, while also strengthening market confidence and investor trust.
Commenting on the development, CSCS Managing Director and Chief Executive Officer, Haruna Jalo-Waziri, described the upgrade as ‘a pivotal moment’ in the company’s digital evolution.
‘This strategic upgrade reflects our unwavering commitment to innovation and operational excellence,’ Jalo-Waziri said. ‘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.’
He added that technology remains central to CSCS’s value proposition, noting that the upgrade would not only boost efficiency but also lay the groundwork for investor-centric solutions to shape the future of the Nigerian capital market.
CSCS serves as the central depository for a wide range of instruments, including equities, corporate bonds, commercial papers, mutual funds, and commodities. Licensed and regulated by the Securities and Exchange Commission (SEC), the company has been instrumental in major market reforms such as the dematerialization of share certificates and the reduction of settlement cycles.
With this latest upgrade, CSCS reinforces its leadership in leveraging technology to deepen market infrastructure, foster investor confidence, and support the long-term growth and global integration of Nigeria’s capital market.