The Central Securities Clearing System Plc (CSCS) has introduced a new USSD code, *7270#, aimed at improving access to key investment services for Nigerian investors. The service, which goes live on Thursday, May 8, will initially be available to MTN subscribers and is designed to make market information more accessible, especially to users without internet access.
By leveraging MTN Nigeria’s wide network coverage, the USSD service enables users to retrieve vital investment information straight from their mobile phones. Investors will be able to check their Clearing House Number (CHN), confirm Direct Cash Settlement (DCS) status, view their stock positions and account balances, and receive updates on account status, all without needing smartphones or trading apps.
Haruna Jalo-Waziri, Managing Director and Chief Executive Officer of CSCS, said the initiative reflects CSCS’s ongoing mission to transform the Nigerian capital market through technology.
“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.
The launch highlights CSCS’s broader goal of bringing more Nigerians into the investment ecosystem by eliminating long-standing barriers to participation, like internet dependency and digital illiteracy.
Aisha Mumuni, Chief Digital Officer at MTN Nigeria, added, “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.”
While the USSD service currently supports only MTN users, CSCS has confirmed plans to extend availability to other mobile networks in the near future.
CSCS serves as Nigeria’s central depository for a wide range of securities — including equities, commercial papers, bonds, ETFs, mutual funds, and commodities — and is licensed and regulated by the Securities and Exchange Commission (SEC).
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