CSCS gross earnings rise 10% to N28.7bn (Page 9)

By Taiye Olayemi

The Central Securities Clearing System Plc (CSCS) has posted a gross earning of N28.67 billion for the financial year ended Dec. 31, 2025.

The gross earning represented a 10 per cent increase when compared with N26.09 billion posted in the corresponding period of 2024.

Mr Temi Popoola, Chairman of the company’s Board of Directors, disclosed this during the 32nd Annual General Meeting (AGM) held in Lagos on Thursday.

During the AGM, the shareholders of the company approved the board’s proposed dividend of N1.78 per share, amounting to N8.9 billion.

Popoola said the company’s operating income grew by 12 per cent to N24.86 billion from N22.16 billion.

He said in spite of the cost pressures and foreign exchange-related impacts during the year, the company delivered resilient financial performance.

He explained that this was underpinned by increased market activity and disciplined execution.

“In line with the company’s performance and commitment to shareholder value, the board and the shareholders have approved a dividend of N1.78 per share.

“This reflects our balanced approach to delivering consistent returns while reinvesting to support long-term growth.

“Going forward, the issue of increase in dividend is non-negotiable,” he said.

Speaking on the 2026 outlook, Popoola said that CSCS would be pursuing a forward-looking strategy anchored on three key priorities.

He explained that the company would strengthen market infrastructure resilience through sustained investment in technology and improved operational efficiency.

According to him, CSCS also planned to expand its service offerings across various asset classes and market segments to support broader market development.

Popoola added that the organisation would unlock value from data and post-trade services to enhance revenue diversification and deepen market insights.

He noted that these would be done with due cognisance of the complex global environment, marked by risks arising from geopolitical developments, trade uncertainties, commodity price volatility, and the pace of domestic reform execution.

Also speaking, Mr Shehu Shantali, Managing Director of CSCS said that the company’s revenue increased significantly by 66 per cent to N23.21 billion.

According to him, this reflected sustained market activity and growth across the company’s core service lines.

He said the company’s operating profit rose significantly to N8.71 billion, expanding its operating margin to 37.5 per cent compared to 10.7 per cent in the prior year.

“This performance reflects disciplined cost management and improved operational efficiency across the organisation.

“Our balance sheet also strengthened during the year, with total equity increasing to N43.49 billion, from N42.40 billion, reinforcing the long-term sustainability of the institution.

“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 said.

Meanwhile, a shareholder, Mr Adebayo Aderemi, urged the company to consider expanding its operations beyond Nigeria.

Also, National President of the Starlite Shareholders Association of Nigeria, Mr Tunji Bamidele, expressed concern over the pace of growth in annual dividends and called for more significant increases going forward.

He, however, commended the company’s Corporate Social Responsibility initiatives during the year under review.

Similarly, the National Coordinator of the Progressive Shareholders Association of Nigeria, Mr Boniface Okezie, emphasised the need for CSCS to adopt a more global outlook.

He noted that the workforce and human capacity required to achieve this were readily available.

Okezie also lauded the company for its smooth transition to the T+2 settlement cycle and advised that banks not listed on the Exchange should not engage with CSCS.

He further commended the company’s financial performance despite prevailing economic challenges, while urging improvements in shareholders’ funds and dividend payouts.

He also praised the level of attendance at board meetings.

On his part, President of the New Dimension Shareholders Association, Mr Patrick Ajudua, advised CSCS to ensure that the N390 million in unclaimed dividends be returned to rightful owners by enhancing its information dissemination strategies to reach affected shareholders.

The shareholders also approved the appointment of Mr Shehu Shantali as an Executive Director and Mr Kennedy Uzoka as a Non-Executive Director.

Also, Mr Temi Popoola, Mr Nonso Okpala and Mr Samuel Onukwue who retired by rotation were re-elected as Non-Executive Directors of the company.

Appointment of Deloitte and Touche as auditor of the company was approved by the shareholders as well. (NAN)

Edited by Olawunmi Ashafa

CSCS gross earnings rise 10% to N28.7bn

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CSCS gross earnings rise 10% to N28.7bn (Page 9)