Shareholders of the Central Securities Clearing System Plc have approved a total dividend payout of N8.9bn, translating to N1.78 per share for the financial year ended 31 December 2025.
The approval was granted during the company’s 32nd Annual General Meeting held in Lagos, following a resilient financial performance despite significant macroeconomic pressures.
The company reported gross earnings of N28.67bn, representing a 10 per cent increase from the N26.09bn recorded in 2024.
Addressing the shareholders, the Chairman of the Board, Temi Popoola, noted that the growth was underpinned by increased market activity and disciplined execution, which also saw operating income rise 12 per cent to N24.86bn.
Popoola emphasised the board’s commitment to shareholder value, stating that the decision to pay N1.78 per share reflects a balanced approach between delivering consistent returns and reinvesting in long-term growth. He further asserted that increasing future dividends remains a ‘non-negotiable’ priority for the institution.
Looking ahead to 2026, the Chairman outlined a forward-looking strategy anchored on strengthening market infrastructure through technology and operational efficiency. The company plans to expand its service offerings across various asset classes and market segments while unlocking value from data and post-trade services to diversify revenue.
Managing Director of CSCS, Shehu Shantali, provided further insight into the performance, revealing that revenue surged 66 per cent to N23.21bn. This growth across core service lines pushed the company’s operating profit to N8.71bn, significantly expanding the operating margin to 37.5 per cent from 10.7 per cent in the previous year.
Shantali highlighted the strengthening of the balance sheet, with total equity increasing to N43.49bn. He credited the results to a focus on risk management and operational efficiency, ensuring that the business continues to grow responsibly amidst a complex global environment marked by geopolitical risks and trade uncertainties.
Reacting to the results, the National Coordinator of the Progressive Shareholders Association of Nigeria, Boniface Okezie, urged the company to adopt a more global outlook. While praising the smooth transition to the T+2 settlement cycle, he advised that the company focus its engagements on listed entities to maintain market integrity.
Similarly, the President of the New Dimension Shareholders Association, Patrick Ajudua, offered counsel regarding N390m in unclaimed dividends. He advised the management to enhance its communication strategies to ensure these funds reach their rightful owners, while also calling for continued improvements in shareholders’ funds.
During the proceedings, shareholders ratified the appointment of Shehu Shantali as an Executive Director and Kennedy Uzoka as a Non-Executive Director. The appointments are expected to bolster the board’s capacity as the company navigates the evolving financial landscape.
The meeting concluded with a vote of confidence from shareholders, who lauded the board’s attendance record and the company’s ability to remain profitable despite foreign exchange-related impacts and commodity price volatility during the 2025 financial year.
As Nigeria’s sole Central Securities Depository, the CSCS is responsible for the clearing, storage, and settlement of all securities traded on the Nigerian Exchange and other recognised trading floors.
Understanding its performance is a primary indicator of the ‘health’ of the Nigerian investment climate.
Moving to T+2 means that when an investor sells shares, they receive their money (and the buyer receives the shares) in two business days instead of three. This enhances market liquidity, reduces systemic risk, and aligns Nigeria with international best practices like those in the US and EU markets.
