FMDQ becomes major shareholder in CSCS

FMDQ is now a majority shareholder of the Central Securities Clearing System Plc.  (CSCS) with a 21.6 per cent equity stake in the company.

According to a press statement by the CSCS, “On Friday 30 June 2023, there was a significant trade of shares of Central Securities Clearing System Plc  (CSCS) on the NASD OTC Plc.

“Two major shareholders of CSCS, Artemis Limited and ZPC Leadway Insurance Prem. Coll & Invest, who previously held 16.61 per cent (830,641,902 units) and 5 per cent (250,000,000 units) shareholding respectively, sold their shares to FMDQ OTC Plc”.

“CSCS serves as the central securities depository and clearing infrastructure for the Nigerian capital markets. Our company plays an intrinsic role in ensuring the integrity and safety of transactions conducted in the Nigerian capital market.

“CSCS expresses gratitude to its shareholders and stakeholders for their sustained interest in the company. We affirm our dedication to working towards achieving our strategic objectives of being the globally respected and leading central securities depository in Africa.