CSCS Obtains ISO/IEC 27001:2013 Re-certification

Central Securities Clearing System (CSCS) Plc is pleased to announce its recertification under ISO/IEC 27001:2013 following the recent audit of its compliance with information security risks controls by the British Standards Institution (BSI), UK, one of the world’s largest accreditation bodies for ISO certifications. The audit involved a series of process validation and assurance check of controls with respect to company and client data management.

Whilst receiving the recertification report, the Managing Director/Chief Executive Officer of CSCS Plc, Mr. Haruna Jalo-Waziri said that as a significant Capital Market Infrastructure and indeed, the Central Securities Depository for the Nigerian Capital Market, one of CSCS’ paramount areas of focus is protection of commercially sensitive information belonging to the company and its investors.

According to Mr. Jalo-Waziri, “CSCS is committed to upholding the highest standards of security for the processes, people and technology powering our services. The confidentiality, integrity and availability of information under our custody are held sacrosanct. ISO recertification provides assurance to all our customers that we have controls in place to identify and mitigate potential risks to confidential information. We work hard to ensure that we build trust and credibility in the market so as to inspire confidence among our stakeholders”.

Mr. Jalo-Waziri added that the “recertification serves to test and affirm our commitment to information security at all levels of our business and I am pleased to begin the year with this milestone”. The Managing Director expressed his profound appreciation to both internal and external stakeholders for their commitment and steadfastness in ensuring the success of the recertification audit.

The ISO/IEC 27001:2013 certification was first obtained by CSCS in 2015. It is conducted by BSI every three years and in between, a yearly surveillance audit is done. The next recertification audit comes up in 2022.

About CSCS Plc:
The Central Securities Clearing System Plc (CSCS Plc) was incorporated in 1992 as a Financial Market Infrastructure (FMI) for the Nigerian Capital Market. It was commissioned in April 1997 and started operations in the same month.
In May 2012, CSCS became a Public Liability Company (Plc) by a special resolution. CSCS is licensed by the Securities and Exchange Commission (SEC) as a central depository, clearing, and settlement agency for transactions in the Nigerian Capital Market.

It operates a computerized system for transactions in securities in the market. CSCS facilitates the delivery and settlement of securities transactions consummated on approved Nigerian Exchanges. It enables securities to be processed in electronic book-entry form, speeding up the transaction period. It also provides ancillary services such as the Electronic Document Management Services, collateral management amongst others.
The company has made visible strides in the Nigerian Capital Market and continues to respond to the needs of the securities and commodities market to enhance transparency and swift settlement of transactions. To learn more about CSCS please visit us at www.cscs.ng

February 26, 2019