Friday, March 27, 2020 / 10:56 AM / CSCS
As a critical
financial market infrastructure (FMI), the Central Securities Clearing System
(CSCS) Plc has reiterated its commitment to continued delivery of efficient
service through the challenging coronavirus (COVID-19) pandemic, as it
activates its business continuity plan and goes fully digital. According to the
messaging to all its participants and partners, exchanges, brokerage firms,
custodians and registrars, CSCS is leveraging its digital channels to meet all
requests at this period, as it joins global institutions in the campaign for
social distancing.
Notably, the
X-alert, an SMS sent by CSCS on all transactions carried out on the Nigerian
Stock Exchange is also being used to educate investors on the need for social
distancing and safety precautions against the coronavirus (COVID-19), with
hashtags such as #StaySafe, #WashHandsAlways, #SocialDistancing and
#WeAreDigital. Whilst it is campaigning social distancing by suspending
services to walk-in clients, who are enjoined to use the digital channels,
including customer contact centre lines (070 CALL CSCS - 070022552727 or 01 448
0500), chat platforms, web portals, social media, Mobile Apps and Data Exchange
platforms amongst others, CSCS' client service and broader support to the
efficient functioning of the capital market, remains strong and active as
always.
Speaking on
COVID-19, Mr. Haruna Jalo-Waziri, the Chief Executive Officer, CSCS Plc hinted
that "as the Financial Market Infrastructure for the Nigerian Capital Market,
we are fully committed to efficient delivery on all our services, as we work
with all stakeholders to reinforce the resilience and liquidity of the Nigerian
capital market, even at this globally challenging period. Having activated our
business continuity plan, which has long been envisaged as a part of our crisis
management framework, we are fully operational, even as a notable percentage of
our staff have been empowered to work remotely from home. More importantly is
our campaign on social distancing, better hygiene practice and other
precautions against the contagious spread of COVID-19, as the safety of
everyone is paramount to us, just as we have activated all relevant measures to
ensure the safety of all depository assets".
As a part of its
strategy of dealing with the pandemic, CSCS has since suspended all business
travels and temporarily physical meetings, including its internal sessions,
thus leveraging digital technologies such as Zoom, Webex, audio conference
calls amongst others. Staff are enjoined to remain alert to credible news and
strictly follow all relevant directives and guidance from the State and Federal
Governments as well as local and global health authorities such as the National
Centre for Disease Control, Ministry of Health and World Health Organization
etc.
Whilst any staff,
who may have returned or come in contact with a returnee from any of the
countries with more than 50 incidences in the past 14 days have been asked to
self-isolate, staff are also enjoined to quickly contact relevant health
authorities in the event that they observe any indicative symptoms.
While assuring its
stakeholders of the availability of CSCS' services running seamlessly, the
Chief Executive Officer noted that CSCS had implemented earlier protocols
including the daily internal sensitization on preventive tips to all
staff along with situational updates on COVID-19 incident reports and
management; increased hygiene measures through deep and more frequent cleaning
of its offices, provision of sanitizing gels to staff and promotion of
recommended personal hygiene practices.
"We thank you for
your understanding as we all rise up to stem the spread of this virus and adapt
to new challenges arising from the pandemic. Our focus is on helping you and
ensuring continuity of our services as a financial market infrastructure. We
are committed to our core values of SECURE and will continue to keep you
updated as we jointly navigate these times. Please stay safe" Jalo-Waziri
concluded in a communication sent to CSCS' Participants.

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