How to enhance the services of COOLOCATION Service for the process of encryption

By Adedapo Adesanya

The shareholders of the Central Securities Clearing System (CSCS) on the weekend agreed to an increase of 17.3 percent in the total profit distributions for the fiscal year ending December 31, 2024.

The company’s council proposed a payment of 8.8 billion nung as a cash reward for the investors for the year under review, compared to 7.5 billion nung in the previous year, and translated into profits of 1.76 Noreos, an increase of N1.50 in 2023.

Speaking at the annual and three -year meeting (AGM) of the organization in Lagos, the chairman of the CSCS Board, Mr. TIMI POPOLA, the strong financial performance of the company in 2024, with a focus on its ability to convert revenue growth into the strong bottom line despite inflationary pressures and currency decline.

He attributed this flexibility to increase the capital market trading activity, favorable returns in the fixed income market, and foreign exchange gains, in addition to the increasing demand for the increasing range of services from CSCS.

Mr. Bubola, who doubles as an executive head of the Nigerian Stock Exchange Group (NGX), dealt with the potential impact of the ongoing tariff tensions on global capital markets, but expressed his confidence in the economic expectations in Nigeria for the year 2025.

He pointed out that structural reforms such as financial discipline, investment in infrastructure, and improving the ease of doing business lay the basis for continuous growth and the confidence of the strongest investor.

Mr. Boubola also pointed out that customs tariff adjustments can stimulate the development of the local industry, enhance innovation and create new value chains.

For his part, the CEO of CSCS PLC, Mr. Haruna Jalo-Waziri, has provided shareholders for a comprehensive general overview of the commercial scene, with reference to the complexities of the global economy in 2024 and the specific challenges it faces in Nigeria, including high inflation, a cataract, and high borrowing costs.

He studied that despite these challenges, the economic impact of strong government spending, a stronger service sector, and improving oil revenues, supported by favorable global oil prices and weakening Nastira, can translate into positives.

Mr. Gallo Waziri also emphasized the main role of innovation in the CSCS strategy, noting the launch of the CSCS Chatbot actual time, customer support around the clock throughout the week, and the launch of the DMO office portal (DMO).

Business work Reports indicating that the portal developed in cooperation with the debt office is to simplify the subscription process for FGN provision, which makes it faster, more transparent and easier to use for a broader investor base.

During AGM, shareholders also confirmed the election of Mrs. Aisha Mohamed Oboud and Mrs. Paula Addisola as independent non -executive managers, as well as the re -election of Mrs. Cinilo Anuho and Mr. Ibrahim Deco in similar roles.