CSCS Commits N100 Million to War against COVID-19

Goddy Egene

The Central Securities Clearing System (CSCS) Plc, Nigeria’s capital market infrastructure, has donated a fully equipped and insured Ambulance to the Capital Market Support Committee for COVID-19 (CMSCC), an initiative of the Securities and Exchange Commission (SEC).

The CMSCC seeks to complement the effort of the federal and state governments in stemming the spread of the novel coronavirus, which has undermined economic and social activities across the world.

In his remarks while presenting the ambulance and cash donation to CMSCC, the Managing Director and Chief Executive Officer of the CSCS Plc, Mr. Haruna Jalo-Waziri said: “We find it imperative to collaborate with other stakeholders in the capital market in this war against COVID-19. The safety of Nigerians and the growth of the economy is a collective responsibility that we cannot leave to the government alone.

“We have committed N100 million to this war against COVID-19, as we are also supporting the efforts of other stakeholders. Whilst we continue to support the society through CSR initiatives, we believe our most impactful support to the capital market and broader Nigerian economy is through our services.

“I am excited that we have operated seamlessly through this crisis, leveraging our investment in technology and people, in ensuring efficient depository and settlement of capital market transactions across multiple capital trade points, including the Nigerian Stock Exchange, the FMDQ Exchange and the NASD-OTC”.

Jalo-Waziri thanked the board of directors of CSCS Plc for taking this crucial decision for them to join well-meaning, responsible corporates and other stakeholders in the fight against this novel coronavirus.

“Whilst it is a challenging time for businesses, it is sacrosanct for corporate leaders to make all possible sacrifice towards this cause, which is perhaps pertinent to the sustainability of businesses and the broader economy,” he said

Whilst receiving the Ambulance and cash donation, the Chairman of the CMSCC, Mr. Ariyo Olushekun applauded the management and board of CSCS Plc for the response to the SEC-led clarion call on capital market stakeholders.

He said: “I am impressed by this kind gesture of CSCS to the capital market community and indeed Nigeria at large, particularly as this comes at a challenging time for most businesses, globally. CSCS has always proven its critical role as the capital market infrastructure, not only in delivering requisite depository and securities settlement services to the broad capital market but also in its corporate social responsibilities.”