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Tag: Central Securities Clearing System

  • CSCS eyes stronger growth with new CEO

    CSCS eyes stronger growth with new CEO

    The board of Central Securities Clearing System (CSCS) Plc has appointed Mr. Shehu Shantali as the company’s new chief executive officer with a target to drive the company’s next ambitious growth plan.

    The appointment, which has received regulatory approval, takes effect on January 1, 2026.

    Shantali succeeds Mr. Haruna Jalo-Waziri, who will be stepping down after eight-year tenure marked by strong leadership, strategic growth, and significant contributions to the development of Nigeria’s capital market infrastructure.

    Chairman, Central Securities Clearing System (CSCS) Plc, Mr. Temi Popoola, said the board was delighted to welcome Shantali as the new helmsman of the company citing Shantali’s wealth of experience, deep industry knowledge, and a strong strategic vision.

    “The board is confident that he will build on the solid foundation laid by his predecessor and lead the company into its next phase of growth,” Popoola said.

    Shantali said he would work with the board, management, staff, regulators, and market participants to further strengthen the company’s leadership position, deliver value to stakeholders, and support the continued growth and stability of the capital market.

    He noted that CSCS plays a critical role in Nigeria’s capital market ecosystem, assuring that the company would continue to uphold highest standards of corporate governance, operational excellence, and stakeholder engagement as it continues to support the Nigerian capital market.

    The company said Jalo-Waziri provided visionary and results-driven leadership that delivered sustained growth and far-reaching transformation across the organization.

    According to the company, Jalo-Wazziri led the successful execution of critical strategic initiatives, strengthened governance and operational effectiveness, and modernized the company’s systems and processes, positioning the organization for long-term resilience and competitiveness.

    “His leadership significantly enhanced stakeholder confidence deepened the organization’s market relevance both domestically and internationally, and established a strong, future-ready foundation for continued success,” the company stated.

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    “On behalf of the Board, I would like to express our profound appreciation to Haruna Jalo-Waziri for his outstanding service to CSCS. Under his leadership, the Company recorded notable milestones and built an impressive legacy of operational excellence, innovation, and stakeholder confidence. We thank him sincerely for his dedication and impact,” Popoola said.

    Jalo-Waziri commended the board, management team and all other stakeholders for their supports during his tenure.

    He said: “It has been an honour to serve as the Chief Executive Officer of CSCS. I am proud of what we have achieved together as a team and grateful for the support of the board, management, regulators, and all our stakeholders. I am confident that CSCS is well positioned for the future, and I wish my successor every success as he takes the Company forward”.

    Shantali holds a Bachelor of Science degree in Accounting from Ahmadu Bello University, Zaria, and an Executive MBA from Kingster Business School.

    He has over two decades of experience in accounting, finance, and financial services across Nigeria and the United Kingdom, with expertise spanning investment and asset management, financial advisory, and International Financial Reporting Standards (IFRS).

    His career cuts across capital markets, investment banking, real estate, and financial services, and is underpinned by a decade at the Securities and Exchange Commission (SEC) Nigeria, where he championed the migration of publicly listed and significant public interest entities from Nigerian GAAP to IFRS and led the Commission’s transition to the contributory pension scheme in 2012.

    Shantali has built deep experience in financial inclusion, digital financial infrastructure, and the development of scalable, market-wide platforms that expand access to regulated financial services.

    As Managing Director and Chief Executive Officer of Apricot Investments Limited, he led the development of the MicroWorld platform, enabling the distribution of structured financial products including micro-health, micro-pension, micro-housing, micro-insurance, and micro-investment solutions.

    Earlier in his career, his team developed Nigeria’s first contactless payment solution, and he played a pioneering role in POS-based agency banking and early mobile-money interoperability on the NIBSS NIP platform, supporting efficient payments, settlement, and system-wide connectivity.

  • Adesola, Muhammed-Oyebode join CSCS board

    Adesola, Muhammed-Oyebode join CSCS board

    The board of Central Securities Clearing System (CSCS) Plc has appointed  Mrs Bola Adesola and Dr. Aisha Muhammed-Oyebode as directors of the company. 

    The company noted that the appointments reflected its commitment to strengthening its leadership with highly experienced professionals who bring extensive expertise across key sectors.

    According to the company, the addition of Adesola and Muhammed-Oyebode supported the  strategy of enhancing governance and leadership.

    “Their significant achievements in financial services, corporate governance, and social impact will contribute to the company’s continued success in the Nigerian capital market,” CSCS stated.

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    Chairman, Central Securities Clearing System (CSCS), Mr. Temi Popoola said the two new directors were joining CSCS during a critical phase of the company’s growth.

     “The appointment of these two exceptional professionals not only underscores our continued dedication to fostering diversity within the board but also reflects our confidence in the lasting contributions these individuals will make. With their extensive expertise in financial services, governance, and corporate strategy, their insights are expected to significantly influence the future success of our company,” Popoola said.

    Managing Director, Central Securities Clearing System (CSCS) Plc, Haruna Jalo-Waziri reassured that the CSCS is dedicated to creating an environment where diverse perspectives are valued and encouraged.

    Said he: “By appointing two highly accomplished women to our board, we are not only enhancing our leadership team but also setting a precedent for the entire industry. We believe that their contributions will drive meaningful change and inspire future generations of women leaders.”

    Adesola, reflecting on her appointment, said it was an honour to  join the board of CSCS, describing the company as an organisation that has consistently driven market innovation and efficiency.

    Said she: “I look forward to contributing my experience in financial services and governance to support CSCS in achieving its strategic goals and sustaining its leadership in the capital market.”

    Muhammed-Oyebode said she was delighted to join CSCS , describing the company as an institution that has been instrumental in driving the growth and transformation of the Nigerian capital market.

    “I look forward to working alongside my fellow board members to drive growth and innovation for the benefit of all stakeholders,” Muhammed-Oyebode said.

    Adesola is an accomplished banker with over 33 years of experience. She currently serves as Chairman of Ecobank Nigeria and the Lagos State Employment Trust Fund. Her career includes senior leadership roles such as Senior Vice-Chairman, Africa at Standard Chartered Bank and CEO of Standard Chartered Bank Nigeria and West Africa. Adesola also co-founded Women in Management, Business, and Public Sector (WIMBIZ), an initiative aimed at empowering women in leadership positions. She is an alumna of Harvard Business School and Lagos Business School and holds a law degree from the University of Buckingham, UK. Her dedication to the economic empowerment of women is reflected in her mentoring efforts, through which she inspires future leaders.

    Muhammed-Oyebode is the Group Chief Executive Officer, Asset Management Group (AMG) Limited and CEO of the Murtala Muhammed Foundation, an organization dedicated to social and economic development in Africa.

    She also chairs Lekoil Limited and has contributed significantly to corporate governance across multiple industries. With a strong legal background, she has worked with various global financial institutions and has led several socio-economic initiatives across the continent.

    Muhammed-Oyebode holds a PhD in Law from SOAS, University of London, along with advanced degrees from King’s College London and Imperial College London. Her work in conflict resolution and women’s leadership initiatives underscores her commitment to sustainable development and governance.