CSCS Targets Improved Investment Accessibility With New Service

The Central Securities Clearing System (CSCS) has launched an innovative service aimed at improving investment accessibility in Nigeria.

On May 8, 2025, CSCS is set to introduce its Unstructured Supplementary Service Data (USSD) code service as this solution is designed to facilitate easier access to investment services for all users, leveraging the extensive network capabilities of MTN Nigeria to provide unparalleled convenience for investors.

CSCS is committed to revolutionising how information is accessed within the Nigerian capital market through this USSD code service. As the Central Securities Depository (CSD), CSCS focuses on enhancing investor experiences and delivering deeper market insights with great convenience.

The CSCS USSD code service allows users to access essential market information directly from their mobile phones, negating the need for internet connectivity or specialised trading platforms. Investors can easily retrieve their Clearing House Number (CHN), check the status of their Direct Cash Settlement (DCS), and view stock positions, account balances, and account status confirmations.

The managing director and chief executive officer of CSCS, Haruna Jalo-Waziri expressed excitement about this launch, stating that, “we are thrilled to introduce the USSD code service, which represents a significant step towards leveraging mobile technology to democratize access to account and portfolio information. This service empowers every investor, regardless of their location or resources, to stay informed about their investments. At CSCS, we believe that financial inclusivity is essential for driving economic growth.”

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He added that, “our partnership with MTN Nigeria on this project marks a significant advancement toward a more inclusive financial landscape, utilizing the expansive reach of the MTN network. This collaboration enhances the investing experience and reinforces our shared commitment to equipping individuals with the tools they need to effectively manage their financial futures.”

Initially, the CSCS USSD code service will be available exclusively to MTN users, but CSCS plans to expand this service to other networks in the near future.

This innovative service will offer investors streamlined and secure access to critical market information at their fingertips.

The chief digital officer of MTN Nigeria, Aisha Mumuni said, “this collaboration with CSCS on the USSD service highlights MTN’s commitment to harnessing the power of mobile technology to simplify complex processes for our users. By making essential investment information available at the touch of a button, we are helping to democratize access to the capital markets, which in turn enhances investor engagement and market transparency.”