The Central Securities Clearing System has partnered with MTN Nigeria to launch a USSD code service aimed at enhancing accessibility to capital market information for investors.
In a statement on Monday, the service, set to go live on May 8, will enable users to access key investment details directly from their mobile phones without needing internet connectivity.
According to the statement, the service will allow investors to easily retrieve Clearing House Numbers, check Direct Cash Settlement status, view stock positions, and confirm account balances and status.
The initiative is part of CSCS’s drive to democratize access to investment services and provide easier ways for Nigerians to stay informed about their financial assets.
Speaking on the development, the Managing Director and Chief Executive Officer of CSCS, Haruna Jalo-Waziri, expressed excitement over the launch, highlighting the service’s role in making investment information more accessible.
“We are excited to launch the USSD code service, a step in leveraging mobile technology to democratize access to account and portfolio information,” he said. “This service empowers every investor, regardless of their location or resources, to stay informed about their investments.”
The collaboration with MTN Nigeria leverages the telecom company’s vast network to make the service available to millions of Nigerians, further extending financial inclusivity.
“Our partnership with MTN Nigeria on this project represents a significant leap toward a more inclusive financial landscape,” Jalo-Waziri added.
Also, the Chief Digital Officer at MTN Nigeria, Aisha Mumuni, emphasized the importance of the service in simplifying access to critical investment information.
“This collaboration with CSCS underscores MTN’s commitment to harnessing mobile technology to simplify complex processes for our users, helping to democratize access to the capital markets and enhance investor engagement,” she said.
The statement added that currently, the USSD service will be available exclusively to MTN users, with plans to extend it to other networks in the near future.
