The Central Securities Clearing System Plc (CSCS) has announced reductions and the removal of selected charges for investors and market intermediaries as part of efforts to deepen participation and improve efficiency in Nigeria’s capital market.
The revised pricing framework, announced on September 2, 2026, is aimed at reducing transaction costs, encouraging retail investment and supporting innovation and liquidity across the market.
Under the new framework, lien fees for retail investors have been reduced by 50 per cent, from 0.25 per cent to 0.125 per cent, while nominal transfer fees for qualifying transfers between immediate family members have been reduced from 0.3 per cent to zero.
CSCS also announced the removal of broker code creation and renewal fees, as well as eligibility fees payable by brokers across the exchanges serviced by the clearing system.
The company said the changes would lower the cost of participation for investors and market operators while creating a more supportive environment for brokers, fintechs and other participants developing solutions to broaden access to the capital market.
Commenting on the review, the Managing Director/Chief Executive Officer of CSCS Plc, Mr Shehu Yahaya Shantali, said the infrastructure supporting the market must continually respond to the needs of investors and other participants.
“As Nigeria’s capital market continues to grow and evolve, we believe its infrastructure must continually respond to the needs of investors and market participants,” he said.
Shantali said the review was intended to reduce friction, improve accessibility and support greater participation while maintaining the secure, resilient and efficient infrastructure on which the market depends.
He added that CSCS would continue to invest in technology and capabilities while working with stakeholders to ensure the organisation remained responsive to the changing needs of the market.
CSCS said the pricing review formed part of its broader efforts to enhance the experience of investors and market participants, support retail participation and enable innovation across the ecosystem.
As a critical financial market infrastructure, CSCS provides depository, clearing and settlement services that underpin activities across Nigeria’s capital market.
The company said it continues to invest in technology, cybersecurity, operational resilience and service innovation to strengthen the efficiency and reliability of the post-trade ecosystem.
CSCS is licensed and regulated by the Securities and Exchange Commission (SEC) and serves as the central depository for equities, commercial papers, corporate bonds, sub-national bonds, certain sovereign bonds, exchange-traded funds, real estate investment trusts, mutual funds and commodities.
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