Lagos, Nigeria – 19 December 2025
The Central Securities Clearing System Plc (CSCS or the Company) today announces the appointment of Mr. Shehu Yahaya Shantali as its new Chief Executive Officer, effective 1 January 2026, following the receipt of regulatory no-objection.
Mr. Shantali succeeds Mr. Haruna Jalo-Waziri, who will be stepping down after a successful eight-year tenure marked by strong leadership, strategic growth, and significant contributions to the development of Nigeria’s capital market infrastructure.
During his tenure, Mr. Jalo-Waziri provided visionary and results-driven leadership that delivered sustained growth and far-reaching transformation across the organization. He led the successful execution of critical strategic initiatives, strengthened governance and operational effectiveness, and modernized the company’s systems and processes, positioning the organization for long-term resilience and competitiveness. His leadership significantly enhanced stakeholder confidence deepened the organization’s market relevance both domestically and internationally, and established a strong, future-ready foundation for continued success.
Commenting on the appointment, the Chairman of the Board, Mr. Temi Popoola, said:
“On behalf of the Board, I would like to express our profound appreciation to Haruna Jalo-Waziri for his outstanding service to CSCS. Under his leadership, the Company recorded notable milestones and built an impressive legacy of operational excellence, innovation, and stakeholder confidence. We thank him sincerely for his dedication and impact.
We are equally delighted to welcome Shehu Shantali as the new Chief Executive Officer of CSCS. He brings a wealth of experience, deep industry knowledge, and a strong strategic vision. The Board is confident that he will build on the solid foundation laid by his predecessor and lead the Company into its next phase of growth.”
Mr. Shehu Yahaya Shantali holds a Bachelor of Science degree in Accounting from Ahmadu Bello University, Zaria, and an Executive MBA from Kingster Business School. He has over two decades of experience in accounting, finance, and financial services across Nigeria and the United Kingdom, with expertise spanning investment and asset management, financial advisory, and International Financial Reporting Standards (IFRS). His career cuts across capital markets, investment banking, real estate, and financial services, and is underpinned by a decade at the Securities and Exchange Commission (SEC) Nigeria, where he championed the migration of publicly listed and significant public interest entities from Nigerian GAAP to IFRS and led the Commission’s transition to the contributory pension scheme in 2012.
Mr. Shantali has built deep experience in financial inclusion, digital financial infrastructure, and the development of scalable, market-wide platforms that expand access to regulated financial services. As Managing Director and Chief Executive Officer of Apricot Investments Limited, he led the development of the MicroWorld platform, enabling the distribution of structured financial products including micro-health, micro-pension, micro-housing, micro-insurance, and micro-investment solutions. Earlier in his career, his team developed Nigeria’s first contactless payment solution, and he played a pioneering role in POS-based agency banking and early mobile-money interoperability on the NIBSS NIP platform, supporting efficient payments, settlement, and system-wide connectivity.
Reflecting on his tenure, the outgoing CEO, Mr. Haruna Jalo-Waziri, stated:
“It has been an honour to serve as the Chief Executive Officer of CSCS. I am proud of what we have achieved together as a team and grateful for the support of the Board, management, regulators, and all our stakeholders. I am confident that CSCS is well positioned for the future, and I wish my successor every success as he takes the Company forward.”
In his remarks, the incoming CEO, Mr. Shehu Shantali, said:
“I am deeply honoured by the confidence the Board has placed in me with this appointment. CSCS plays a critical role in Nigeria’s capital market ecosystem, and I look forward to working with the Board, management, staff, regulators, and market participants to further strengthen the Company’s leadership position, deliver value to stakeholders, and support the continued growth and stability of the capital market.”
CSCS Plc remains committed to the highest standards of corporate governance, operational excellence, and stakeholder engagement as it continues to support the Nigerian capital market.
About CSCS Plc
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, investment banks, and 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 market, including its audacious full dematerialization of share certificates and shortening of the settlement cycle.
CSCS serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds (such as the FGN Sukuk and the FGN Savings Bond), Exchange-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 digital technologies, CSCS serves its participants, institutional investors, and retail investors through varying channels, including its web portal, online and mobile applications; web chatbot; Data Exchange platforms; and customer service call center, 070 CALL CSCS—070022552727 or 01 448 0500, among others.
