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CSCS’s New Strategy Excites Shareholders

Shareholders under the aegis of Independence Shareholders Association of Nigeria (ISAN) have said the three-year (2018 to 2020) strategy unveiled by the Central Securities Clearing System (CSCS) Plc last week will benefit all stakeholders.

CSCS, which is the financial market infrastructure for the Nigerian capital market, launched strategic plan aimed at leveraging technology for process optimisation and profitability.

The new strategy was presented by the Managing Director/Chief Executive Officer of CSCS, Mr. Haruna Jalo-Waziri to the stockbroking community, investors and other stakeholders.

Speaking to THISDAY after the presentation, Alhaja Ayodele Kudaisi of ISAN, said if well implemented, the strategy will be a win-win for all stakeholders.

“I listened to the presentation and I can tell you that if the strategy is well implemented, the market as whole will benefit, investors will benefit. In fact every stakeholder will benefit,” she said.

Jalo-Waziri had said transformative strategy is predicated upon five pillars: focused on technology; customer satisfaction; processes optimisation; partnership through strategic alliances; and revenue growth.

“Based on our culture of continuous improvement, the technology pillar will focus on necessary technological improvements to ensure that the company delivers on its corporate goals and is proactive in embracing new and disruptive technologies, optimizing the use of innovative technology, instituting Straight Through Processes (STP) across all touch points and establishing e-learning platforms,” he said.

According to him, the company will leverage innovative technology in skilling and reskilling human resources for optimum service delivery.

He explained that with the customer satisfaction pillar, CSCS will become truly customer-centric and boost commercial excellence by achieving a minimum of 80 per cent customer satisfaction with 20 per cent minimum of new and existing customer activities on all touch points, ensuring seamless relationship with all stakeholders and preventing dissatisfaction of customers, as well as setting up Customer Call Centre to attend to the needs of CSCS’ teeming customers.

For the strategic pillar of alliances across businesses and regions, CSCS will expand the capital market ecosystem by partnering policy makers and regulators.

Speaking on the fifth pillar which is on revenue growth, Jalo-Waziri said CSCS is not only into clearing and settlement but has developed other products that will bring about more efficiency and a robust capital market. He said CSCS has developed electronic storage system that makes market participants to be more efficient.

According to him, other products developed by the company are the Electronic General Meeting (eGEM), Insurance Repository and Pension Contribution Management System amongst others.