The Central Securities Clearing System Plc (CSCS) has unveiled a new Unstructured Supplementary Service Data (USSD) code designed to improve accessibility and ease of use for investors across Nigeria.
The service, activated via *7270#, will go live on Thursday, May 8, and is initially supported on the MTN Nigeria network to deliver convenient, on-the-go access to investment services.
According to a statement by Haruna Jalo-Waziri, Managing Director and Chief Executive Officer of CSCS, the initiative is part of the organisation’s continued push for innovation aimed at transforming how investors interact with the Nigerian capital market.
“CSCS and the Central Securities Depository are committed to enhancing investor engagement by delivering deeper market insights and greater convenience,” he said.
Jalo-Waziri noted that the USSD service enables investors to access vital market information from basic mobile phones without needing internet access or a dedicated trading platform.
Through the new service, users can retrieve their Clearing House Number (CHN), verify their Direct Cash Settlement (DCS) status, check stock positions, view account balances, and confirm account status.
*“We are thrilled to launch the 7270# USSD code, which marks a major step forward in democratising access to portfolio and account details via mobile technology,” he said.
“This tool ensures all investors, regardless of geographic or economic barriers, can monitor and manage their investments with ease. Financial inclusivity is central to our strategy for economic growth.”
He added that the partnership with MTN Nigeria is a significant advancement toward building a more inclusive financial system.
Echoing this, Aisha Mumuni, Chief Digital Officer of MTN Nigeria, said the collaboration aligns with MTN’s mission to simplify user experiences through technology.
*“Our partnership with CSCS to provide the 7270# service demonstrates MTN’s commitment to making critical investment data accessible with minimal effort,” she said. “This initiative will deepen investor participation and transparency in the capital market.”
Currently, the USSD code will function exclusively on MTN, but CSCS intends to extend compatibility to other mobile networks in the near future.
CSCS operates as the Central Depository for a wide range of instruments including equities, commercial papers, corporate and sub-national bonds, selected sovereign bonds such as the FGN Sukuk and FGN Savings Bond, exchange-traded funds, mutual funds, real estate investment trusts, and commodities.
The firm is licensed and regulated by the Securities and Exchange Commission (SEC).
(NAN)