‘CSCS settled N634bn shares in 2011’
Written by Kayode Ogunwale, Lagos  Monday, 28 May 2012

The Central Securities and Clearing System Limited (CSCS), the clearing house of the Nigerian Stock Exchange (NSE) said it cleared the value of traded shares and settled N634.92 billion in 2011.

Speaking in Lagos on the company’s performance, the Chairman, Mr. Oscar Onyema said the value of trades cleared and settled stood at N634.92 billion while volume of trades cleared and settled was 89.6 billion shares.

He added that the number of lien transactions stood at 343, certificate requests were 20 and the value and number of dematerialised shares were 61.23 billion and 528,994 respectively.

“In 2011, your company actively participated in actualising the extensive work-in plan geared towards buoying the Nigerian capital market. We particularly take pride in stating that CSCS played a fundamental role in the listing process of the first Exchange Traded Funds (ETF) with its appointment as sub-registrars to the issue, Onyema said.

He noted that the board is looking at strengthening governance by bringing in independent directors to strengthen the composition of the board.

According to him “We also want to have an audit and risk management committee to make sure that we carry everybody along.”

The Managing Director, Mr. Kyari Bukar said the company was seeking ways of diversifying its businesses to ensure sustained revenue.

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