CSCS Board Renews Jalo-Waziri’s Appointment as MD/CEO

By Goddy Egene

The Board of Directors of Central Securities Clearing System (CSCS) Plc, has reappointed Mr. Haruna Jalo-Waziri as managing director/chief executive officer (MD/CEO) for another term of five years, effective November , 2021.

According to the company, the well-deserved reappointment comes after four successful years of transformative leadership which has led to enhanced productivity and value creation at Nigeria’s premier and dominant capital market infrastructure.

“In 2017, Mr. Jalo-Waziri took over from the interim CEO, Mr. Bola Adeeko, with a clear mandate to drive the next phase of CSCS’s strategic journey.

Over the last four years, the company has seen a major boost in its revenue base as well as built strong strategic alliances with other financial market entities across Africa.

“With the oversight of the board and a fully dedicated management team, Jalo-Waziri led the growth of CSCS’s profit by 18 per cent CAGR and delivered a 20 per cent return on average equity in 2020 financial year, despite the COVID-19 pandemic. Jalo-Waziri and team have repositioned CSCS as a market-oriented and client-centric organisation, which has proven effective in enhancing operational excellence, extracting efficiency gains and deepening stakeholder engagements, all of which are critical for the long-term sustainability of CSCS as a financial market infrastructure,” the company said in a statement.

Speaking on the reappointment, Chairman of CSCS, Mr. Oscar Onyema, said: “The Board is impressed with Mr. Jalo-Waziri’s performance at CSCS over the past four years and it has been exciting working with the executive management team under his leadership. More so we believe that the foundation the team has built, positions the company for its next growth phase. That is why we are aiming to consolidate on our gains and diversify the business for sustainable growth. On behalf of the Board, I congratulate Mr. Jalo-Waziri on this reappointment, which reflects our vote of confidence and greater expectations from him in creating value for shareholders and broader stakeholders of CSCS.

Commenting on his reappointment, Jalo-Waziri said: “I would like to thank the Board of Directors for this reappointment. It’s a vote of confidence in my team, whose tenacity and ingenuity are my greatest motivation and confidence. I am tremendously proud of the talent pool we have built here at CSCS. As we set out to diligently execute on our next growth strategy, I am super excited at the future of this great institution and look forward to deepening our partnership with different stakeholders for mutual prosperity. I would continue to count on the support of our apex regulator, the Securities and Exchange Commission; our board of directors; participants and other stakeholders in deepening the Nigerian capital market for our mutual growth. It has been an excitingly challenging journey and the grass keeps getting greener at every turn.”