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Thursday, March 23, 2023

Nigerian Exchange Group Increases CSCS Stake to 44.18%

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The Nigerian Exchange Group (NGX), has increased its equity stake in the Central Securities Clearing Systems (CSCS) Plc to 44.18% at the end of 2022.

This is up from 31.14% in 2021, according to data from the NGX Audited financial statement seen by MoneyCentral.

The NGX loaded up on debt to the tune of N14.52 billion to finance its CSCS acquisition.

The principal activity of the CSCS is to act as a depository, clearing and settlement agency for all quoted and trade securities in the Nigerian capital market. CSCS is domiciled in Nigeria.

The net assets of the Company as at 31 December 2022 was N34.9 billion.

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