National Wire About Nigerians, Nigerian Business and Other Stories
The Central Securities Clearing System (CSCS) on Monday May 28, 2018 paid a cumulative dividend of N3.5 billion to its shareholders, this translating to 70 kobo per share.
The dividend pay-out is expected to be paid to shareholders whose names appeared on the register of members on as at May 15, 2018.
Meanwhile, shareholders yesterday raised concern over the contributions made to the Investment and Securities Tribunal (IST). They requested for an equitable ways of funding the tribunal.
In his reaction to questions raised at the meeting, the chairman of the company Mr Oscar Onyema explained that they believe it should not be only the Securities and Exchange Commission (SEC), Nigerian Stock Exchange (NSE) and Central Securities Clearing Systems that should be funding the tribunal.
He pointed out that they have raised the issue on the need to spread the funding of the tribunal to all the value chains in the market, especially now that more exchanges has emerged and the tribunal is for the capital market. Stressing that everybody in the capital market should fund the tribunal, in order to reduce the burden on SEC, NSE and CSCS.
On the company future outlook, Onyema said “we have unveiled our strategic business plan for 2018 to 2020 period. The strategic objectives and initiatives in the plan are anchored on the following pillars, process optimization, customers’ satisfaction, and technology improvement to deliver corporate goals, partnerships through strategic alliance across businesses and stakeholders, revenue growth. We have started leading initiatives to deliver on some of these pillars”
On his part, Haruna Jalo Waziri, Chief Executive Officer said they have developed a pipeline of new products in response to market need and shall also reassess traditional products and services to ensure that its pricing model is smart, as well as guarantees the companies competitiveness. “we trust that as we continue to deliver value to our participants and stakeholders, our market dominance shall remain unchangeable”
While assuring shareholders that “we anticipate that our revenues shall continue to grow, and we shall continually keep our promise of decent return on investments for our shareholders”
Photo Caption: From Left: Mr. Sola Adeeyo, Independent Director, Central Securities Clearing System (CSCS) Plc, Mr. Haruna Jalo-Waziri, Managing Director/Chief Executive Officer, CSCS Plc, Mr. Oscar Onyema, Chairman, Board of Directors, CSCS Plc, Mr. Charles Ojo, Company Secretary, CSCS Plc, and Mr. Bayo Olugbemi, Non-Executive Director, CSCS Plc at the 24th Annual General Meeting of Central Securities Clearing System Plc on Monday.
