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The Central Securities Clearing System (CSCS) Plc saw its 2025 gross earnings climb 10% to ₦28.67 billion, driven largely by depository and transaction fees which contributed ₦4.845 billion and ₦15.436 billion respectively, totaling ₦20.282 billion.
The figures were disclosed at the company’s 32nd Annual General Meeting held in Lagos on Thursday, April 24, 2026, where the Board and Management reviewed performance for the year ended December 31, 2025.
Speaking to shareholders, Chairman of the Board of Directors, Temi Popoola, said the company delivered resilient financial performance despite cost pressures and foreign exchange-related impacts that defined the 2025 operating year.
“Despite cost pressures and foreign exchange-related impact during the 2025 year, the company delivered resilient financial performance, underpinned by increased market activity and disciplined execution,” Popoola stated.
Revenue from core services rose sharply by 66% to ₦23.21 billion, reflecting sustained market activity and growth across CSCS’s service lines. Total operating income reached ₦28.67 billion, up 12% from ₦22.16 billion in 2024, a rise management linked to the scalability of its operating model.
Operating profit recorded a significant jump to ₦8.71 billion, pushing operating margin to 37.5% compared to 10.7% in the prior year. Popoola noted that the margin expansion reflected disciplined cost management and improved operational efficiency across the organization.
While topline and operating metrics strengthened, profit before tax dipped 2% to ₦13.57 billion in 2025 from ₦13.84 billion in 2024. Profit after tax closed at ₦9.90 billion for the year.
Shareholders’ fund grew 3% to ₦43.49 billion from ₦43.40 billion, reinforcing what the company described as the long-term sustainability of the institution.
In line with performance and its commitment to shareholder value, the Board proposed a dividend of ₦1.78 per share. Popoola said the payout reflects a balanced approach to delivering consistent returns while reinvesting to support long-term growth.
Looking ahead, Popoola acknowledged that the global environment remains complex, citing risks from geopolitical developments, trade uncertainties, commodity price volatility, and domestic reform execution.
“Notwithstanding these challenges, the Board remains confident in the long-term trajectory of Nigeria’s capital market. Sustained reform implementation, macroeconomic discipline, and continued market modernization will be critical to deepening liquidity, expanding participation, and unlocking long-term value,” he said.
Within that context, he outlined CSCS’s forward-looking strategy built on three priorities:
1. Strengthening market infrastructure resilience through continued investment in technology and operational efficiency.
2. Expanding service offerings across asset classes and market segments to support broader market development.
3. Unlocking value from data and post-trade services to diversify revenue and deepen market insight.
Popoola added that these priorities position the company to capture emerging opportunities while reinforcing its role as a trusted and systemically important market infrastructure institution.
In his comment, the Managing Director/Chief Executive Officer, Shehu Yahaya Shantali, told shareholders that CSCS delivered strong financial performance against a dynamic environment in 2025.
“Revenue increased significantly by 66% to ₦23.21 billion, reflecting sustained market activity and growth across our core service lines. Total operating income reached ₦28.67 billion, highlighting the scalability of our operating model,” Shantali said.
He pointed to the jump in operating profit to ₦8.71 billion and the margin improvement to 37.5% as evidence of disciplined cost management.
“These results reflect a business that continues to grow responsibly while maintaining a disciplined focus on operational efficiency, risk management and long-term shareholder value,” he added.
On the next phase of evolution, Shantali said strategic focus will center on advancing digital transformation and automation across the post-trade ecosystem, expanding market interoperability and system integration, enhancing data infrastructure and analytics capabilities, and strengthening cyber resilience and operational security.
The AGM closed with shareholders commending the Board’s stewardship, while management reiterated its commitment to building a more efficient, data-driven and interoperable post-trade infrastructure for Nigeria’s capital market.
