Shareholders of Central Securities Clearing System (CSCS) Plc have approved a dividend of N1.78 per share for the 2025 financial year, endorsing the company’s strong earnings performance and strategic direction, even as investors called for a more aggressive expansion beyond Nigeria.

The approval, which formed the highlight of the company’s Annual General Meeting (AGM), reflects CSCS’ commitment to delivering consistent shareholder returns amid a year of robust financial growth and capital market reforms.

The company reported a 66 percent jump in revenue to N23.21 billion, while profit after tax rose to N9.90 billion, underpinned by increased market activity and operational efficiency. Operating profit climbed to N8.71 billion, with margins strengthening significantly to 37.5 percent, reinforcing investor confidence in the institution’s long-term value proposition.

Chairman, Temi Popoola, said the dividend payout balances immediate shareholder rewards with the need to reinvest for future growth, noting that the company remains well-positioned within a reform-driven economic environment.

He highlighted the improving macroeconomic stability, supported by foreign exchange reforms, fiscal adjustments, and enhanced transparency, is gradually restoring investor confidence. According to him, these developments have strengthened the appeal of the capital market, which recorded significant growth in 2025 as market capitalisation expanded and the NGX All-Share Index reached new highs.

Popoola also pointed to the successful transition from a T+3 to T+2 settlement cycle as a major milestone achieved during the year, aligning Nigeria’s market infrastructure with global best practices and improving liquidity.

Managing Director/Chief Executive Officer, Shehu Yahaya Shantali, said the company’s performance reflects disciplined execution and strategic investments in technology and market infrastructure.

He noted that total operating income rose to N28.67 billion, while profit before tax stood at N13.57 billion, with shareholders’ equity strengthening to 43.49 billion.

“Technology remained a central pillar of our strategy,” Shantali said, citing the upgrade of the company’s core application and the rollout of digital platforms such as RegConnect 2.0, the Custodian Portal, and an enhanced Brokers Portal.

He added that CSCS would continue to pursue digital transformation, deepen data capabilities, and position the market for a future transition to T+1 settlement.

Despite the strong performance, shareholders urged the company to broaden its horizon beyond the domestic market.

National Coordinator of the Progressive Shareholders Association of Nigeria, Boniface Okezie, called on CSCS to adopt a more global outlook, arguing that Nigeria possesses the human capital and institutional capacity to support cross-border expansion.

He also commended the seamless implementation of the T+2 settlement regime but cautioned that banks not listed on the Exchange should not engage with CSCS operations.

Similarly, President of the New Dimension Shareholders Association, Patrick Ajudua, raised concerns over N390 million in unclaimed dividends, urging the company to strengthen its communication channels to ensure affected investors receive their entitlements.

Looking ahead, the Board expressed confidence that Nigeria’s capital market will sustain its growth trajectory despite global uncertainties, including geopolitical tensions and shifting trade dynamics.

CSCS said it would focus on strengthening market infrastructure resilience, expanding service offerings, and leveraging data-driven solutions to diversify revenue streams, positioning the institution as a critical enabler of Nigeria’s evolving financial ecosystem.

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