CSCS Plc Strengthens Board with New Leadership, Appoints Temi Popoola as Chairman

Central Securities Clearing System (CSCS) Plc, Nigeria’s leading Central Securities Depository (CSD), has announced the appointment of Mr. Temi Popoola, a financial expert and the current Group Managing Director/Chief Executive Officer of Nigerian Exchange Group, as its new chairman.

CSCS Plc is Nigeria’s premier Financial Market Infrastructure (FMI). It provides secure and efficient depository, clearing, and settlement services for a wide range of securities within Nigeria’s capital markets. With over two decades of experience, CSCS Plc has played a pivotal role in transforming the market, including spearheading the dematerialization of share certificates and streamlining settlement cycles.

“I am thrilled to see Mr. Temi Popoola appointed as the new chairman of CSCS Plc. His exceptional leadership qualities and dedication to excellence will undoubtedly steer CSCS towards greater heights,” said outgoing Chairman, Oscar N. Onyema, whose 13-year visionary leadership has been instrumental in driving transformative ideas that propelled remarkable growth and success at CSCS.

Onyema also expressed his heartfelt gratitude to all board members and staff he worked with, acknowledging their immense support and contribution during his tenure as chairman.

The incoming Chairman, Popoola, a seasoned leader in the financial industry, expressed his unwavering commitment to CSCS’s vision, saying: “I’m deeply honoured to lead the board and collaborate with CSCS’s dedicated team. Together, we’ll build upon the company’s legacy, fostering a thriving and dynamic capital market for the benefit of all stakeholders and ensuring CSCS’s vision remains at the forefront of our actions.”

Joining the board alongside Popoola are Samuel Onukwue, chairman of the Association of Securities Dealing Houses of Nigeria (ASHON) and MD/CEO of Mega Equities Limited, and Nonso Okpala, respected business leader and the GMD/CEO of VFD Group Plc.

Also, Mr. Haruna Jalo-Waziri, MD/Chief Executive Officer of CSCS Pls, said: “The new board members, all leaders in their respective fields, bring a wealth of knowledge and strategic insight.

“Their contributions, combined with those of our existing team, will be invaluable as we drive innovation and bolster market efficiency and transparency, ensuring a bright future for CSCS.”

Jalo-Waziri expressed his sincere gratitude to Ms. Tinuade Awe, Mr. Seyi Owoturo, and Mrs. Tairat Tijani, who retired from the board alongside Mr. Onyema, for their outstanding service to the company.

All appointments have received regulatory approval from the Securities and Exchange Commission (SEC), underscoring CSCS’s commitment to best practices in corporate governance and regulatory compliance.

CSCS is licensed and regulated by the Securities and Exchange Commission (SEC). Its activities are governed by the Investment and Securities Act 2007, the Companies and Allied Matters Act 2004, and the SEC Rules. The company’s dedication to market transparency and efficiency makes it a driving force in developing Nigeria’s robust financial ecosystem