Investors can now access their Investments with a Simple Dial with a New USSD Code launched by the Central Securities Clearing System Plc (CSCS).CSCS launched its Unstructured Supplementary Service Data (USSD) code to enhance the ease and accessibility of investment services for all users.
The newly launched code *7270#, which is set to go live on Thursday, May 8, is meant to leverage the network capabilities of MTN Nigeria to bring unparalleled convenience to investors.
Haruna Jalo-Waziri, Managing Director and Chief Executive Officer of CSCS, said in a statement that due to CSCS’s relentless commitment to innovation, it aimed to revolutionise information access within the Nigerian capital market through the USSD code service.
Jalo-Waziri said that the Central Securities Depository (CSD) and the CSCS focused on enhancing investor experiences and providing deeper market insights with unparalleled convenience.
He explained that the CSCS USSD code service offered seamless access to essential market information directly from mobile phones, eliminating the need for internet connectivity or specialised trading platforms.
He said investors can now effortlessly retrieve Clearing House Number (CHN), check Direct Cash Settlement (DCS) status, view stock positions, account balances, and account status confirmations.
“We are excited to launch the *7270# USSD code service, a significant step in leveraging mobile technology to democratise access to account and portfolio information.
“This service empowers every investor, regardless of their location or resources, to stay informed about their investments.
“At CSCS, we believe that financial inclusivity is key to driving economic growth.
“Our partnership with MTN Nigeria on this project represents a significant leap toward a more inclusive financial landscape, leveraging the spread of the MTN network.
“This collaboration enhances the investing experience, reinforcing our shared commitment to empowering individuals with the tools they need to manage their financial futures effectively,” he said.
Also, Aisha Mumuni, Chief Digital Officer of MTN Nigeria, said, “This collaboration with CSCS on the *7270# USSD service underscores MTN’s commitment to harnessing the power of mobile technology to simplify complex processes for our users.
“By making critical investment information available at the touch of a button, we are helping to democratise access to the capital markets and, in the process, enhance investor engagement and market transparency.”
The CSCS USSD code service will initially be available to MTN users only.
However, CSCS plans to expand this service to other networks soon.
This innovative service offers investors streamlined and secure access to critical market information at their fingertips.
CSCS serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds (such as the FGN Sukuk and the FGN Savings Bond).
Others include Equity-traded Funds, Real Estate Investment Trusts, Mutual Funds, and Commodities.
CSCS is licensed and regulated by the Securities and Exchange Commission
