Central Security Clearing System CSCS: Functions,Phone,Customer Care,Email & Contact Address
The Central Securities Clearing System (CSCS) Plc was incorporated on July 29, 1992 as a Financial Market Infrastructure (FMI) for the Nigerian Capital Market.
The CSCS was later commissioned in April, 1997 and started operations in April 14, 1997.
On the 16th of May 2012, CSCS became a Public Liability Company (PLC).
--The Central Securities Clearing System operates a computerized depository,clearing,settlement and delivery system for transactions in securities in the Nigerian Capital Market.
CSCS also facilitates the transfer of securities from seller to buyer and settlement i.e payment of bought shares transacted on the approved Nigerian Exchanges.
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CSCS enables securities to be processed in an electronic book-entry thereby helping to reduce the the period it takes a transaction to commence and end.
The Central Securities Clearing System (CSCS) Plc
Q: Functions and benefits of cscs in nigeria capital market?
- Central depository for share certificates of companies quoted on The Nigerian Stock Exchange.
- Reduces the incidence of loss or stolen certificates/late delivery of certificates.
- Issuer of central securities identification numbers to shareholders.
- Reduces investment risk and creates opportunity for speculation.
- Reduces cost of maintaining register of shareholders.
- Increases transparency of market.
- Raises investors confidence in the market.
- Reduces operating costs.
- Increase market turnover.
- Increase efficiency and profitability of stockbroking.
- Increase liquidity of stock.
- Encourages foreign investment.
- Increases liquidity and vibrancy of the market Stockbroking firms.
- Prompt inter-broker money and stock settlement.
- Sub-registry for all quoted securities
Q: Email & Contact Address of CSCS Nigeria?
CSCS Lagos Office Address
- 1st Floor ,Stock Exchange House
- 2/4 Customs Street, Lagos
- Lagos, Nigeria
- Email Address: firstname.lastname@example.org
- +234 1 903 3551
- +234 1 460 1900
CSCS Abuja Office Address
- 2, Misratah Street, Off Parakou Street
- Wuse 2, Abuja
- +234 9 290 9043
- +234 9 290 8750
Q: CSCS Customer care Phone Number?
- +234 1 903 3552
- +234 1 903 3553
- +234 1 460 1902
- +234 1 460 1903