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Digital Storage, Inter-Member Transfer of CSCS Excite Nigeria
Corporate Nigeria and shareholders of quoted companies in Nigeria are having a swell time thanks to the Central Securities Clearing System (CSCS) Limited’s digital data storage and retrieval depository
CommunicationsWeek
investigations revealed that the solution which revolves around Content Management and Data Warehousing Solution called Enterprise Content Management Solution helps capture, store, and search as well as deliver both structured and unstructured data.
Launched in 2005, by the CSCS, clearing house of the Nigerian Stock Exchange, it is archiving and retrieval of digital data center for corporate organization and provide reliable storage for National Data.
The system has put CSCS Ltd at the cutting edge of modern technology in its bit to expand and modernize its clearing, settlement, custody service and other Central Depository function making it a world class center through its multiple communication channels while providing additional services which include the following:
Effective disaster recovery offsite data center for organizations such as oil and gas companies, government, banks conglomerates that run Mission-Critical Applications. It will be designed to accommodate small and large corporate bodies.
Elsewhere, the inter-member transfer of the CSCS is affording investors freedom of action.
Investors are allowed to transfer custody of their investment to any stockbroking firm of choice at any time. Investors are not compelled to do stock transactions perpetually with a stockbroking firm.
If a stockbroking firm is sanctioned by the regulatory authorities, clients can transfer custody of their investment to any chosen stockbroking firm.
If transfer is initiated by the resident (current) Firm. The stockbroking firm would write CSCS to move the client account (based on the client’s request) to another stockbroking fiml. This letter would be addressed to the Managing Director/CEO of CSCS.
The letter would state the name of the client, account number, name of stock and quantity of stock to be moved.
Confirmation of the transfer from CSCS can be obtained through the acknowledgement copy of the transfer letter.
Thereafter, the new house could go ahead to trade on the stock.
If transfer is initiated by the Target stockbroking firm
The new house would write a letter to CSCS (addressed to the Managing Director/CEO) with client’s letter of instruction to the stockbroking firm attached, stating that he wants to transfer his account with the specified stock(s) and quantity from his former house to the new house. The former house would be copied.
Confirmation of the transfer from CSCS can be obtained through the acknowledgment copy of the transfer letter.
Thereafter, the broker would go ahead to trade on the stock(s).
Common mistakes associated with Inter-member transfers:
Some stockbroking firms initiating the transfers did not ascertain if the stocks were still available before initiating letters of transfer. This was necessary in order to reduce faulty transfer request. Transfer requests were usually made to the Traded Stock Account of the target stockbroking firm. This was wrong and unacceptable because it amounted to changes of ownership without trades.
The Clearing House Number and the Stock Account Number of the clients being transferred in some instances were not stated for ease of transfer. There were open-ended transfer request such as "transfer all the stocks belonging to Mr. A", this kind of request could not be treated because the names of the stocks and the quantities to be moved were not explicitly stated. Some shareholders instructed CSCS to transfer their accounts to other houses. Instructions of that nature were expected to come through their stockbroking firms. Letter of consent from the target house without the acknowledgement of the client’s former house was not entertained.
News
Telcos See Biggest Growth Post-COVID – ALTON

Engr. Gbenga Adebayo, Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), has said that the telecommunications sector in Nigeria is once again on a strong growth trajectory.

Engr. Gbenga Adebayo, Chairman, ALTON
Engr. Adebayo stated this over the weekend on the side-lines of the unveiling of Nigeria’s first Digital Museum, an initiative that preserves and showcases the nation’s history and cultural heritage.
He commended IHS Towers for spearheading the project, describing it as another clear demonstration of the industry’s commitment to the Nigerian project. He noted that by investing in the preservation of Nigeria’s past while building the infrastructure of the future, IHS has set a remarkable example of corporate citizenship.
Speaking on the state of the telecoms sector, Engr. Adebayo said: “After addressing sustainability concerns earlier in the year, we are now witnessing significant new investments in the sector: the highest we have seen since before the COVID-19 pandemic. Members of ALTON are optimising networks, building new sites to meet rising capacity demands, upgrading existing infrastructure, and migrating more sites from old radio links to high-speed fibre connections.”
He further noted that Tower Companies (TowerCos) are enhancing security across telecom sites to mitigate against vandalism and theft. “Removable batteries and generators are now fitted with trackers to trace stolen items, and we strongly advise the public to desist from buying equipment suspected to have been stolen from telecom sites,” he cautioned.
Engr. Adebayo also highlighted ongoing capacity development within the sector: “We are training and retraining our workforce to adapt to emerging technologies. The Nigerian Communications Commission (NCC) has set strict service level requirements, and we are committed to not only meeting but surpassing them. Though network optimisation may occasionally cause service disruptions, we appeal to the public for understanding as these efforts will ultimately deliver a much-improved user experience nationwide.”
On industry governance, the ALTON Chairman expressed delight at the inauguration of the new Board of the NCC, chaired by Mr. Idris Olorunimbe.
“We are very excited about the appointment of Mr. Idris. His reputation as a man of excellence precedes him. Working with the competent and visionary Executive Management Team led by the Executive Vice Chairman, Dr. Aminu Maida, and the other Executive Commissioners, we are confident the sector is set on the right path to sustainability and growth. The new Board will strengthen the remarkable progress already achieved.”
Engr. Adebayo further welcomed the rebranding of Emerging Markets Telecommunications Services (EMTS) from 9Mobile to T2, describing it as an important milestone for the industry.
“EMTS is a very important member of ALTON, and we are pleased to see their rebirth as T2. This rebranding enhances investor confidence and underscores the value of collaboration. It assures the public that there are good times ahead for our industry, and we are very excited about what the future holds,” he stated.
Turning to issues of Right of Way (RoW), Engr. Adebayo stressed that investments can only thrive in enabling environments:
“The digital train is moving very fast. States that create hostile conditions for telecom operations risk being left behind. We will not continue to solicit endlessly for cooperation. Where deployment is unwelcome, investments will move to more supportive neighbouring states, and citizens of unfriendly states will inevitably suffer limited connectivity. We urge all state actors to partner with us so that no one is left behind in this rapid transformation.”
On the issue of multiple taxation, Engr. Adebayo commended the Federal Government under the leadership of President Bola Ahmed Tinubu, particularly the Presidential Tax and Fiscal Policy Reform Committee, for its ongoing reforms. Engr. Adebayo described the reforms as a pivotal step toward streamlining Nigeria’s tax system and eliminating the burden of multiple taxation. He highlighted the positive impact on small and medium-sized businesses, noting that the changes will promote entrepreneurship, attract investment, and foster a more business-friendly environment.
“We eagerly await the commencement of the implementation in January 2026. We are confident that the over 56 taxes and levies currently borne by our members across various jurisdictions will soon become a thing of the past.”
Engr. Adebayo concluded by appreciating all industry stakeholders and reaffirming ALTON’s commitment to the Nigeria project:
“The transformation we are witnessing in our sector has not been experienced in recent years. We thank the leadership of the NCC for their commitment, we congratulate and welcome the new Board under the leadership of Mr. Idris Olorunimbe, and we look forward to even greater milestones ahead.
The industry is on the march again, and together, with the support of the public in protecting our critical infrastructure, there is no stopping Nigeria’s telecommunications sector as a driver of national economic stability and growth.”
News
NITDA, Bauchi State Partner on Digital Literacy and Skills Framework

By James Ishaku
The Bauchi State Government, through the state’s Bureau for ICT and Digital Economy in partnership with the National Information Technology Development Agency (NITDA), has officially launched the Digital Literacy and Skills Framework (DL4ALL Bauchi Initiative), a flagship programme aimed at equipping citizens with essential 21st-century skills and positioning the state as a hub for digital innovation.
Declaring the event open, Bauchi State Governor, Senator Bala Mohammed, described digital literacy as a fundamental right for all citizens. He positioned the initiative as part of a broader vision to prepare youth and civil servants to compete globally, create productive jobs, and address poverty through technology.
“Technology and innovation are the fastest-growing industries in the world,” the Governor said. “With the right skills, people can now create sustainable value from anywhere—even from their own homes. This is how we will empower our youth, strengthen institutions, and enable our entrepreneurs to succeed globally. Beyond digital literacy, we are committed to producing an army of experts in advanced digital skills who will drive innovation and economic diversification.”
The Governor emphasised that the ultimate goal is to create productive jobs, “jobs that provide lasting value, fight poverty, and restore dignity.” He noted that over the last six years, the state has invested heavily in infrastructure to open up the economy and connect the vast potential of its youth to global markets.
Speaking on behalf of NITDA’s Director General, Kashifu Inuwa Abdullahi, the Director of the DG’s Office, Dr. Ayodeji Eniola, commended Bauchi State for “taking a bold step towards ensuring the state is not left behind in the ongoing global digital revolution.”
The DL4ALL Bauchi Initiative aligns with NITDA’s Strategic Roadmap and Action Plan 2.0 as well as the National Digital Literacy Framework (NDLF), which focuses on six core competencies: device and software operation, information and data literacy, digital content creation, communication and collaboration, safety, and problem-solving.
The DL4ALL Initiative is anchored on three strategic programs, firstly, the informal sector program which equips artisans, traders, and other informal workers with practical digital skills. In partnership with the National Youth Service Corps, NITDA has recruited and trained 7,101 Digital Literacy Champions who have already reached over 267,000 Nigerians, with a target of 30 million beneficiaries by 2027.
Secondly the workforce readiness program which provide the public servants, graduates, and job seekers with digital productivity and employability skills. NITDA plans to train five million workers nationwide, collaborating with partners such as Cisco and the Office of the Head of Service.
Lastly, the educational sector program which integrates digital literacy into school curricula. A new Basic Education Digital Skills Curriculum, approved in October 2024, will roll out in September 2025, alongside plans to train 3,600 teachers nationwide.
Inuwa further noted that Nigeria’s greatest resource is its young population. “With Bauchi’s abundant human capital and strategic position in northern Nigeria, the state has enormous potential to become a hub for digital innovation and economic transformation,” he said.
He noted that Nigeria’s greatest resource is its young population. “With Bauchi’s abundant human capital and strategic position in northern Nigeria, the state has enormous potential to become a hub for digital innovation and economic transformation,” he said.
In his remarks, the Director General of the Bauchi State Bureau for ICT and Digital Economy, Malam Hayatudeen Babamaji, said the event was “not just about launching a programme, but about setting a bold agenda for the digital future of Bauchi State.”
He reaffirmed the state’s commitment to becoming a leading high-security digital hub in Northern Nigeria and across the country, creating jobs and generating revenue through technology-driven growth.
He added that Bauchi State has taken a historic step towards building a secure, inclusive, and globally competitive digital economy aimed at bridging the digital skills gap in the state, thus paving way for the creation of jobs and revenue flow for the state.
The event attracted senior government officials, technology leaders, development partners, and members of the State House of Assembly, marking a significant milestone in Bauchi State’s journey towards a secure, inclusive, and globally competitive digital economy.
News
CAC Delists 247 Firms Over Invalid Registration Claims

Corporate Affairs Commission (CAC) has announced the removal of 247 companies from its official database, citing improper registration.
In a public notice shared via its official X handle on Friday, the Commission stated that the affected entities were never duly registered as limited liability companies.
According to CAC, the Registered Certificate (RC) numbers allegedly linked to these companies were never assigned to them, rendering their incorporation invalid.
As a result, the Commission has delisted the companies and removed their names and RC numbers from its records.
The CAC urged the general public to disregard any claims suggesting that these companies exist as legal entities or possess any rights or obligations under Nigerian law.
This move is part of the Commission’s ongoing efforts to maintain the integrity of its corporate registry and protect the public from fraudulent business operations.
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