The Central Securities Clearing System Plc (CSCS), Nigeria’s leading capital market infrastructure provider, has announced a significant milestone in its digital transformation journey with the successful upgrade of its core application platform. The upgrade was carried out in partnership with global technology firms IBM and Tata Consultancy Services (TCS).
The enhancement marks a major step forward in CSCS’s commitment to innovation, operational efficiency, and market resilience. It positions the organisation as one of the most technologically advanced post-trade service providers in Africa.
CSCS first deployed the TCS BaNCS system in 2015. The latest upgrade, running on the IBM Power 10 Series, modernises the system’s core infrastructure and significantly improves processing speed, scalability, security, and integration capabilities. The development creates a stronger foundation for future technological innovations within the Nigerian capital market.
The initiative aligns with CSCS’s vision of creating a seamless, secure, and efficient marketplace. It is expected to enhance transaction processing speed, boost transparency, improve data analytics capabilities, and reinforce operational stability.
Managing Director and Chief Executive Officer of CSCS, Haruna Jalo-Waziri, described the upgrade as a defining moment in the company’s growth strategy.
“This strategic upgrade reflects our unwavering commitment to innovation and operational excellence. Partnering with global technology leaders like IBM and TCS ensures that we continue to deliver world-class post-trade services that meet the evolving needs of Nigeria’s capital market,” he said.
He added that technology remains central to CSCS’s value proposition:
“This upgrade reinforces market confidence, enhances efficiency, and paves the way for new, investor-centric solutions that will shape the future of Nigeria’s capital market.”
The new system strengthens national market infrastructure, supports investor trust, and aligns Nigeria’s post-trade environment with global standards.
With this upgrade, CSCS is now better positioned to drive the next wave of innovation and competitiveness in the capital market.
