By Onu Okorie

Central Securities Clearing System Plc (CSCS) has announced a 50 per cent reduction in lien fees for retail investors, cutting the charge from 0.25 per cent to 0.125 per cent. This has been seen as part of a review of selected fees aimed at reducing the cost of participating in Nigeria’s capital market.
The clearing and settlement infrastructure provider also announced the removal of charges on qualifying transfers between immediate family members. The fee for such transfers, previously pegged at 0.3 per cent, has now been reduced to zero.
Under the revised pricing framework, CSCS has also scrapped broker code creation and renewal fees, as well as eligibility fees payable by brokers across the exchanges serviced by the company.
The company said the changes were designed to lower transaction costs for investors and market intermediaries, encourage greater retail participation and support the development of technology-driven solutions in the capital market.
Commenting on the fee review, the Managing Director and Chief Executive Officer of CSCS, Shehu Yahaya Shantali, said the company was committed to ensuring that market infrastructure continued to respond to the changing needs of investors and other participants.
“As Nigeria’s capital market continues to grow and evolve, we believe its infrastructure must continually respond to the needs of investors and market participants,” Shantali said.
He said the review was aimed at identifying areas where CSCS could reduce friction, improve accessibility and support greater participation while maintaining the secure, resilient and efficient infrastructure required by the market.
According to him, the revised charges form part of the company’s broader efforts to promote a deeper and more inclusive capital market.
“We see this as part of our broader responsibility to support the development of a deeper, more inclusive and innovative Nigerian capital market,” he said.
Shantali added that CSCS would continue to invest in technology and capabilities while working with stakeholders to ensure that its services remained responsive to developments in the market.
The revised charges cover selected services provided by CSCS, which operates as Nigeria’s central securities depository and provides depository, clearing and settlement services for the capital market.
The company said the reductions and waivers were also intended to create a more supportive operating environment for brokers, fintech companies and other market participants developing solutions to expand access to investment opportunities.
CSCS has continued to invest in technology, cybersecurity, operational resilience and service innovation as part of efforts to strengthen post-trade services.
The company provides depository services for a range of securities and investment products, including equities, commercial papers, corporate bonds, sub-national bonds, selected sovereign bonds, exchange-traded funds, real estate investment trusts, mutual funds and commodities.
The latest pricing review comes as Nigeria’s capital market continues to pursue measures aimed at improving market access, lowering transaction costs and boosting participation among retail and institutional investors.