E-Financial
CSCS Assures on Depository Service to Investors
Central Securities Clearing System (CSCS) has said it is well-positioned to clear and settle all secondary market transactions on debit notes, going forward, notwithstanding the Exchange where it is traded.
The assurance is coming ahead of the debut of Dangote Cement N100 billion bonds issue in the debt capital market.
“With CSCS having full coverage of the market, it is well-positioned to clear and settle all secondary market transactions on the debit notes, going forward, notwithstanding the Exchange, where it is traded. With over N530 billion outstanding corporate debt issues and slightly less than N400 billion outstanding sub-national bonds, the Nigerian debt capital market is increasingly becoming a viable source of long-term funding for both corporates and state governments,” said Mr Haruna Jalo-Waziri, Managing Director/CEO, CSCS.
“With this debut N100 billion debt note, Dangote Cement Plc is once again reinforcing the capacity of the Nigerian debt capital market and setting a new benchmark in terms of size and pricing of corporate bonds.
“ CSCS, being the depository to about half a trillion-naira outstanding corporate bonds from twenty-three issuers, we are excited to onboard Dangote Cement bonds into our depository post the Securities and Exchange Commission ( SEC) approval of allotments.
We are excited at working with all stakeholders – the issuer, joint lead arrangers, Exchanges and more importantly esteemed investors – Pension Fund Administrators (PFAs), banks, asset managers, trustees, custodians and brokerage firms, who would be participating in this landmark transaction.
“We earnestly look forward to the approved allotment schedule to promptly credit investors’ accounts and provide a consolidated view of all their investments across the capital market.”
“Dangote Cement Series 1 bond is a landmark transaction for the Nigerian debt capital market, as it will be the largest-ever single corporate debt issue in the Nigerian capital market.
“Similar to the Dangote Cement N150 billion Commercial Paper (CP), which has helped deepen that segment of the money market and broaden local investors’ investment options in the fixed income market, the Series 1 bond, which is the debut issue out of the N300 billion Shelf Programme, will further reinforce the potential depth of the Nigerian debt capital market and the ability of local corporates to fund long term projects from the domestic debt market,” Jalo-Waziri added.
Kuda Microfinance Bank partnered with Lovers & Frnds for a Valentine’s edition event on Sunday, February 15, at Space Hub Lekki, Lagos, redefining celebrations around love, friendship, and social connections beyond romance.
Kuda Bank
The R&B-themed gathering drew couples, friend groups, and solo attendees with music sets from DJs like TGarbs, games, gift exchanges, and colour-coded tags—red for relationships, yellow for mingling singles, orange for non-minglers—to spark easy interactions.
Kuda activated a branded photo booth, merchandise giveaways, prize activities, and complimentary drinks for Premium loyalty tier customers, while vendors used Kuda Business POS terminals for seamless cashless payments.
Senior Brand Manager Emmanuel Femi-Adejobi said: “We partner with experiences matching our customers’ lifestyles in music and entertainment, creating spaces they genuinely connect with—we’ll keep supporting how they live and celebrate.”
By Mathew Anthony, Market Analyst at FXTM
In another positive development for Nigeria, the CBN has proceeded with 50-basis points rate cut.
FXTM Logo
With favourable fundamental forces at play, it was always a question of how much rather than if rates will be cut in February.
Although some were expecting a hefty 100-basis point cut, this was still a positive move by the CBN, mirroring the dovish strategy of other major banks on the continent.
Interest rates were slashed thanks to cooling inflationary pressures, a stronger Naira and rising FX reserves.
This move is likely to boost confidence over the economic outlook ahead of the Q4 GDP report scheduled for release later this month.
Central Bank of Nigeria (CBN) has lowered its Monetary Policy Rate (MPR) by 50 basis points to 26.50 percent from 27 percent, a unanimous decision announced by Governor Olayemi Cardoso at the end of the 304th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday.
CBN
Cardoso cited 11 straight months of decelerating headline inflation—reaching 15.10 percent in January 2026 per National Bureau of Statistics—as key, driven by prior tightening lags, naira stability, food supply gains, steady petroleum prices, export earnings, remittances, and balance of payments strength.
Liquidity ratio stays at 30 percent, CRR unchanged at 45 percent for commercial banks (16 percent merchant banks) and 75 percent non-TSA public deposits; standing facilities corridor now +50/-450 basis points around MPR.
The MPC retained other parameters, welcoming Executive Order 09 redirecting oil/gas revenues to the federation account for fiscal boost, last cutting rates in September 2025 after November’s hold.
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