CSCS partners IBM, TCS to upgrade core technology, strengthening Nigeria’s capital market infrastructure
Central Securities Clearing System CSCS
The Central Securities Clearing System Plc (CSCS), Nigeria’s premier capital market infrastructure, has achieved a major milestone in its digital transformation journey through a strategic core technology upgrade executed in collaboration with IBM and Tata Consultancy Services (TCS).
A statement from the company said this landmark initiative underscores CSCS’s commitment to innovation, efficiency, and operational resilience, positioning the organization as one of Africa’s most technologically advanced post-trade service providers.
Since first adopting the TCS BaNCS platform in 2015, CSCS has leveraged technology to enhance the performance and transparency of the Nigerian capital market. The latest upgrade, powered by IBM Power 10 Series, marks a new phase in the company’s modernization strategy — improving system speed, scalability, integration, and cybersecurity, while laying a foundation for future innovation and growth.
Speaking on the development, Haruna Jalo-Waziri, Managing Director and Chief Executive Officer of CSCS, described the upgrade as a pivotal step in the company’s digital transformation agenda.
“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 and its participants,” he said.
Jalo-Waziri added that the upgrade would boost market confidence and enable CSCS to deliver investor-centric solutions that align with global best practices.
“At CSCS, technology is not just an enabler, it is at the heart of our value proposition. This upgrade reinforces market confidence, enhances efficiency, and paves the way for new, investor-focused solutions that will shape the future of Nigeria’s capital market,” he added.
The new system strengthens Nigeria’s market infrastructure, enhances transparency, supports faster transaction processing, and positions CSCS to harness advanced data analytics and digital innovation across the financial ecosystem.
