By Ngozi Onyeakusi—Central Securities Clearing System (CSCS) Plc, Nigeria’s leading central securities depository, proudly announces the receipt of the highly coveted “Digital Transformation and Cybersecurity Advocate of the Year Award” at the just concluded BusinessDay’s Banks and Other Financial Institution’s Awards (BAFI) 2023 ceremony. The event took place at the Lagos Continental Hotel on Saturday.

This prestigious accolade which falls under the Segment Awards Category, recognizes CSCS for its unwavering commitment to advancing digital innovation and reinforcing cybersecurity advocacy within the Nigerian financial sector. The award also reaffirms CSCS’ pivotal role in shaping Nigeria’s financial landscape, making it a paragon of excellence in the industry.

CSCS was considered for the award because of its exceptional contributions to the Digital Transformation and Cybersecurity Advocacy space, showcasing its commitment to excellence, technological innovation, regulatory compliance, and forefront role of cybersecurity advocacy by ensuring cybersecurity practices in safeguarding and maintaining market integrity and investor trust.

Mr. Haruna Jalo-Waziri, the Managing Director and Chief Executive Officer, CSCS Plc, who was ably represented by Mr. Tobe N. Nnadozie, Divisional Head, Business Technology & Digital Innovation, CSCS, expressed his gratitude and shared his thoughts on this remarkable achievement. According to him: “This award is a testament to the relentless pursuit of excellence and innovation that defines CSCS. Our team’s commitment to embracing digital transformation and enhancing cybersecurity has been a driving force behind our success. We are honoured to be recognized for our efforts in fortifying Nigeria’s financial infrastructure.”

He further emphasized the significance of CSCS’ role in the digital age: “The world is evolving rapidly, and the financial industry is at the forefront of this transformation. As the foremost central securities depository, it is our responsibility to ensure that the Nigerian capital market is equipped with the most robust digital infrastructure while maintaining the highest standards of cybersecurity. This award motivates us to keep pushing boundaries and exploring new horizons.”

The award acknowledges the proactive measures taken by CSCS to stay at the forefront of the financial industry’s digital revolution. The company has consistently invested in cutting-edge technologies and cybersecurity protocols to ensure that investors, institutions, and market participants can engage with confidence in the Nigerian capital market. The company is also at the forefront of cybersecurity advocacy ensuring cybersecurity practices in safeguarding market integrity.

CSCS extends its gratitude to its dedicated employees, stakeholders, and the Nigerian financial community for their continuous support. This accolade underscores CSCS’ ongoing commitment to spearheading innovative changes within the financial sector while maintaining the highest cybersecurity standards.

BusinessDay, the organiser of the BAFI Awards commended CSCS for its efforts in enhancing the overall security of the Nigerian financial ecosystem and fostering the adoption of digital technology, making the award ceremony an inspiring occasion for all involved.

The BusinessDay Banks’ and Other Financial Institutions (BAFI) Awards is the most prestigious recognition event for outstanding performance in the Nigeria’s financial services industry.

About CSCS
The Central Securities Clearing System (CSCS) is a Public Limited Company, with a diversified shareholder base, including the Nigerian Stock Exchange, some of the largest banks in Nigeria, private equity firms, investment banks and other corporate and individual shareholders. With over two decades of operation, serving as the Central Securities Depository for the Nigerian Capital Market, CSCS has been pivotal to the growth and transformation of the capital market, including its audacious full dematerialization of share certificates and the shortening of settlement cycle in the capital market.

CSCS serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds (such as the FGN Sukuk and the FGN Savings Bond), Equity-traded Funds, Real estate Investment Trusts, Mutual funds and Commodities. CSCS is licensed and regulated by the Securities and Exchange Commission (SEC). The activities of CSCS are governed by the Investment and Securities Act 2007, the Companies and Allied Matters Act 2004, and the SEC Rules.

Leveraging on digital technologies, CSCS serves its participants, institutional and retails investors through varying channels, including its web portal; www.cscs.ng; online and mobile applications, web chatbot, Data Exchange platforms, customer service .