Yemisi Izuora
The Board of Directors of Central Securities Clearing System (CSCS) Plc has approved an interim dividend of ₦1.00 per ordinary share for the six months ended 30 June 2026, marking the first interim dividend in the Company’s history.
The decision reflects the Company’s record first half financial performance, strong cash generation, resilient balance sheet and the Board’s confidence in the sustainability of its earnings. The interim dividend also reflects the Company’s continued ability to reward shareholders while maintaining the financial capacity to invest in technology, innovation and future growth.
The interim dividend of ₦1.00 per share represents 56% of the total dividend of ₦1.78 per share paid for the 2025 financial year, demonstrating the Company’s strong earnings momentum and confidence in its outlook.
Record Financial Performance
CSCS delivered one of the strongest financial performances in its history during the first half of 2026.
Total operating income increased by 92% to ₦18.51 billion, driven primarily by significantly higher transaction fee income as capital market activity strengthened, continued growth in depository services, expanding collateral management revenues and increased contributions from data and technology-enabled services. Investment income also recorded healthy growth as the Company continued to optimise its investment portfolio.
While operating income grew by 92%, operating expenses increased by only 38%, demonstrating the scalability of CSCS’ business model and the benefits of disciplined cost management. As a result, operating profit increased by 186% to ₦10.11 billion, Profit Before Tax rose by 115% to ₦13.21 billion, while Earnings Per Share increased from 109.1 kobo to 190.1 kobo.
The Company’s operational efficiency also strengthened considerably during the period. The Cost-to-Income Ratio improved from 63.2% in the corresponding period of 2025 to 45.4%, while Operating Profit Margin increased from 36.8% to 54.6%, reflecting strong operating leverage, disciplined cost management and the continued scalability of the Company’s business model.
These results demonstrate not only the benefits of increased market activity, but also the strength of CSCS’ operating model and its ability to translate revenue growth into stronger profitability, enhanced shareholder returns and sustainable long-term value creation.
Commenting on the Board’s approval, the Chairman of CSCS Plc, Mr. Temi Popoola, said, “The Board’s decision to declare an interim dividend reflects our collective confidence in the Company’s financial strength, the quality of its earnings and its long-term strategic direction. On behalf of my fellow Directors, I am pleased that this performance has been driven not only by stronger market activity but also by sustained improvements in operational efficiency, disciplined cost management and the continued diversification of our revenue streams.
As a Board, we remain committed to maintaining an appropriate balance between rewarding shareholders today and continuing to invest in technology, innovation, resilience and new growth opportunities that will strengthen CSCS’ position as Nigeria’s leading financial market infrastructure and one of Africa’s foremost post-trade institutions.”
Managing Director’s Statement
Commenting on the results, the Managing Director/Chief Executive Officer of CSCS Plc, Mr. Shehu Yahaya Shantali, said:
“Our first half performance reflects the strength and resilience of CSCS’ business model, the dedication of our people and the continued confidence of market participants. We are particularly encouraged by the strong growth in earnings, the significant improvement in operating efficiency and our ability to translate that performance into enhanced shareholder returns, as demonstrated by our first ever interim dividend.
Looking ahead, we remain focused on strengthening our core market infrastructure, investing in technology and innovation, broadening our revenue streams and enhancing the value we deliver to all stakeholders. We are confident that these priorities position CSCS to sustain its growth trajectory and continue supporting the development of Nigeria’s capital market.”