CSCS Achieves 98.4% Full Dematerialisation Success Rate

CSCS Achieves 98.4% Full Dematerialisation Success Rate

The Central Securities Clearing System (CSCS) Plc has disclosed that 98.4 per cent of shares quoted on the Nigerian Stock Exchange (NSE) are now available in an electronic format in CSCS depository leaving only 1.6 per cent of share certificates still in physical certificate form.

General Manager, Operations at CSCS, Mr. Joe Mekiliuwa, disclosed this recently during an interactive session with the capital market stakeholders in Lagos, saying that CSCS is working with Registrars to ensure that full dematerialisation is achieved before the end of third quarter (Q3).

“Efforts are geared towards assisting the relevant Registrars to ensure that the remaining 1.6 per cent , although seemingly infinitesimal, is firmly attended to so as to achieve 100 per cent success rate before the end of Q3,” he said. Read more

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