In strengthening its governance and execution of strategic objectives, the regional association of global Central Securities Depositories (CSDs), Africa and Middle East Depositories Association (AMEDA), elected Mr. Haruna Jalo-Waziri, the Managing Director/Chief Executive Officer of Central Securities Clearing System (CSCS) Plc as its Vice President.
Mr. Jalo-Waziri would be working closely with Mr. Abdalla Abdin, the Chief Executive Officer of Bahrain Clear, who currently serves as the President of the association, in steering the affairs of AMEDA and leading execution of strategic initiatives towards delivering value to its members and broader stakeholders. Mr. Jalo-Waziri, who also represents the global community of Central Securities Depositories on the Operating Committee of the International Securities Services Association (ISSA) brings to AMEDA almost three decades hands-on experience in the region’s financial services sector, across different segments of the market, including capital market regulation, pensions and conventional asset management, investment and commercial banking, Exchange management and post-trade services.
As the Chief Executive Officer of CSCS, Mr. Jalo-Waziri has led transformation of CSCS into an agile and innovative market infrastructure, delivering unprecedented results to the company’s shareholders and broader Nigerian capital market stakeholders.
Speaking on the election, Mr. Jalo-Waziri noted: “I feel greatly honored by my nomination and more so the overwhelming vote of confidence at the election. I thank my colleagues in the association and reckon this election as a call to service in advancing post-trade services and broader capital market development in Africa and Middle East regions.
“Central Securities Depositories have pivotal roles to play in deepening Africa’s capital market and I am excited to work with established professionals through the collective prowess that AMEDA affords in leading the desired change in our respective capital market ecosystem and broader continent. I am excited at the commitment of our President, Mr. Abdalla Abdin, and all members towards our mission, and this reinforces my confidence in our collective ability to change the narratives of capital markets in Africa and Middle East”.
Ms. Riham Gamal, the Executive Secretary of AMEDA noted: “Mr. Jalo-Waziri has been a very active member of AMEDA, representing the Nigerian CSD, over the past five years. He has led several initiatives of the association, in addition to being a positive reference and rallying point for members in exchanging information and knowledge. Hence, it would be exciting to work with him as the Vice-President of AMEDA. He is very complementary to the positive leadership of Mr. Abdalla Abdin, and I am more than ever excited about the prospect of AMEDA in executing brilliant ideas towards the mutual prosperity of members and more importantly the development of capital markets in Africa and Middle East.”
AMEDA, which was established in April 2005, is a non-profit organization providing a structured platform for knowledge and information exchange as well as collaboration amongst Central Securities Depositories in Africa and the Middle East regions. It promotes cooperation and advocacy towards adoption of global best practices and regulatory standards in securities depositories and post trade services, whilst supporting its members in navigating the uniqueness of their respective markets. With memberships in Africa and Middle East regions, AMEDA serves as a dialogue channel and bridge for global partnerships with the regions’ CSDs. Also, active as associate members are global banks such as HSBC and Standard Chartered Bank as well as CSDs from other regions, such as the Indian National Central Securities Depository.
About CSCS
The Central Securities Clearing System (CSCS) is a Public Limited Company, with a diversified shareholder base, including the Nigerian Exchange Group, some of the largest banks in Nigeria, private equity firms, other corporate and individual shareholders. With over two decades of operation, serving as the Central Securities Depository for the Nigerian Capital Market, CSCS has been pivotal to the growth and transformation of the capital market, including its audacious full dematerialization of share certificates and the shortening of settlement cycle in the capital market.
CSCS serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds (such as FGN Sukuk and FGN Savings Bond), Equity-traded Funds, Real estate Investment Trusts, Mutual funds and Commodities. CSCS is licensed and regulated by the Securities and Exchange Commission (SEC). The activities of CSCS are governed by the Investment and Securities Act 2007, the Companies and Allied Matters Act 2004, and the SEC Rules.
