By Taiye Olayemi
The Central Securities Clearing System Plc (CSCS), has upgraded its core technology system in collaboration with global technology firms, IBM and Tata Consultancy Services (TCS).
CSCS, Nigeria’s capital market infrastructure provider made this known in a statement on Monday.
The Managing Director and Chief Executive Officer of CSCS, Mr Haruna Jalo-Waziri, described the upgrade as a pivotal moment in the company’s digital transformation agenda.
He said: “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 further emphasised the broader impact of the transformation, saying, “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 new, investor-centric solutions that will shape the future of Nigeria’s capital market.”
The company further said that the upgrade marked a key milestone in its digital transformation journey, reinforcing its commitment to innovation, operational efficiency, and market resilience.
It noted that since its first adoption of the TCS BaNCS platform in 2015, it had consistently harnessed technology to power the Nigerian capital market’s evolution.
The company said that the latest enhancement, which ran on the IBM Power 10 Series platform, modernised CSCS’ core infrastructure to boost processing speed, system scalability, integration, and cybersecurity.
“It also provides a stronger foundation for future innovation and digital services across Nigeria’s capital market.
“The new upgrade aligns with CSCS’s long-term vision of enabling a seamless, secure, and efficient marketplace, while delivering enhanced value to stakeholders.
“The improved infrastructure will support faster transaction processing, better data analytics, and enhanced operational resilience, further positioning CSCS among Africa’s leading post-trade service providers, “ it said.
The company noted that the upgraded platform signaled CSCS’ readiness for the next phase of digital innovation in post-trade services.
It added that, beyond improving operational efficiency, the new system strengthened Nigeria’s market infrastructure, fostered investor trust, and aligned the ecosystem with global best practices.
“Through this milestone, CSCS continues to demonstrate its leadership in leveraging technology to power the growth, integrity, and global competitiveness of the Nigerian capital market, “ it said.
