Lagos, Nigeria –  11 November 2022: Central Securities Clearing System (CSCS) Plc, Nigeria’s premier Central Securities Depository (CSD), has today announced the appointment of  Mr. Adeyinka Shonekan, as Executive Director on its Board.

The appointment of Adeyinka as an Executive Director, results from a rigorous process to add valuable experience to the Board whilst also strengthening Management bandwidth.  Adeyinka, currently the company’s Divisional Head, Sales and Business Development, joined the Board of Directors of CSCS PLC, effective November 2022, as Executive Director, subject to relevant statutory/regulatory provisions.

Speaking on the appointment, the Chairman of the Board, Mr. Oscar N. Onyema OON, said “this appointment is an acknowledgment of the success Adeyinka has recorded over the past three years of leading business growth and revenue diversification. The appointment reinforces the strong leadership pipeline within the Executive and Middle Management of CSCS and affirms the commitment of the Board to effective resourcing of the organization, as it continues to lead innovations and stakeholder engagements for market development.”

Commenting on the appointment, the MD/Chief Executive Officer of CSCS PLC, Mr. Haruna Jalo-Waziri noted; “Adeyinka’s appointment to the Board should stimulate more energy at the Executive and Middle Management levels of the organization, as it reinforces the confidence of the Board of Directors in the strong pool of talent and leadership of the institution. It speaks volume of the commitment of the Board to employees’ career growth and succession planning, a philosophy which should continue to drive innovation and broader productivity of the workforce. More importantly, Adeyinka’s elevation to the Board of Directors should strengthen the Executive bandwidth, especially towards delivering our strategic initiatives anchored on enhancing service excellence and business diversification.”

In response to his appointment Adeyinka reinforced his commitment to excellence “This appointment is an honor and a worthy challenge. I have watched CSCS, as an organisation, grow in bounds over the last 3 years. I am surrounded by formidable workforce dedicated to this growth. I look forward to playing an integral part in the continuous journey of building a world class organisation.”

Adeyinka Shonekan is an accomplished business leader and finance professional, with extensive experience across various segments of the financial services sector, including banking, capital markets and insurance sub-sectors.  He has strong relationship management and leadership skills, a personality which reflects on his track record of building and leading effective cross functional teams, driving change initiatives and executing growth strategies.

Prior to joining CSCS, Adeyinka was at various times  Executive Director at Volker Securities and Investments Company Limited; the Chief Operating Officer at Unic Insurance Plc; Group Head, Corporate Banking, Telecoms and Special Projects at Bond Bank Limited and a member of the Corporate Banking team at Guaranty Trust Bank.

Adeyinka holds a B.A Economics from the University of Leicester, an MBA in International Management from the University of Exeter and a Diploma in Marketing from the Chartered Institute of Marketing, England.

About CSCS

The Central Securities Clearing System (CSCS) is a Public Limited Company, with a diversified shareholder base, including the Nigerian Exchange Group, some of the largest banks in Nigeria, private equity firms, other corporate and individual shareholders.  With over two decades of operation, serving as the Central Securities Depository for the Nigerian Capital Market, CSCS has been pivotal to the growth and transformation of the capital market, including its audacious full dematerialization of share certificates and the shortening of settlement cycle in the capital market.

CSCS serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds (such as FGN Sukuk and FGN Savings Bond), Equity-traded Funds, Real estate Investment Trusts, Mutual funds and Commodities. CSCS is licensed and regulated by the Securities and Exchange Commission (SEC). The activities of CSCS are governed by the Investment and Securities Act 2007, the Companies and Allied Matters Act 2004, and the SEC Rules.

Leveraging on digital technologies, CSCS serves the market through varying channels, including its web portal; www.cscs.ng; online and mobile applications, web chatbot and, customer service call centre; 070 CALL CSCS – 070022552727 or 01 448 0500 amongst others.

CONTACT: [email protected]