CAPITAL MARKET

CSCS supports COVID-19 fight with N100m

PublishedJuly 17, 2020



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Joseph Olaoluwa

The Central Securities Clearing System Plc says it has committed N100m towards the fight against COVID-19 in Nigeria.

The CSCS said it had donated a state-of-the-art ambulance to the Capital Market Support Committee for COVID-19.

As part of its Corporate Social Responsibility, the CSCS will partner other stakeholders in the distribution of 100,000 reusable face masks to the most vulnerable, low-income households across the country, according to a statement entitled ‘CSCS commits N100m to war against COVID-19,” and dated July 14, 2020.

The Managing Director and Chief Executive Officer, CSCS, Mr Haruna Jalo-Waziri, was quoted as saying at the donation ceremony that the safety of Nigerians would not be left to the government alone.

He said, “We have committed N100m to this war against COVID-19, as we are also supporting the efforts of other stakeholders. Whilst we continue to support the society through CSR initiatives, we believe our most impactful support to the capital market and the broader Nigerian economy is through our services.

“I am excited that we have operated seamlessly through this crisis, leveraging our investment in technology and people, in ensuring efficient depository and settlement of capital market transactions across multiple capital trade points, including the Nigerian Stock Exchange, the FMDQ Exchange and the NASD-OTC.”

Jalo-Waziri thanked the board of directors of CSCS for the decision to undertake the endeavour, calling on other corporate leaders to make sacrifices towards fighting the COVID-19 pandemic.

The Chairman, CMSCC, Mr Ariyo Olushekun, said, “I am impressed by this kind gesture of the CSCS to the capital market community and indeed Nigeria at large, particularly as this comes at a challenging time for most businesses, globally.

“CSCS has always proven its critical role as the capital market infrastructure, not only in delivering requisite depository and securities settlement services to the broad capital market but also in its corporate social responsibilities.”

Olushekun promised that the CMSCC would make judicious use of the donation.

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He also encouraged the general public to take personal responsibility by maintaining basic safety protocols such as the use of facemasks in public, regular washing of hands with soap and water or the use of sanitisers.