The Central Securities Clearing System Plc (CSCS) has reduced lien fees for retail investors by 50 per cent, from 0.25 per cent to 0.125 per cent, as part of a review of selected charges aimed at lowering the cost of participation in Nigeria’s capital market.
The clearing and settlement infrastructure also removed charges for qualifying transfers between immediate family members, cutting the nominal transfer fee from 0.3 per cent to zero.
Under the revised pricing framework, CSCS has equally scrapped broker code creation and renewal fees, as well as eligibility fees payable by brokers across the exchanges serviced by the company.
CSCS said the changes were intended to reduce transaction costs for investors and market intermediaries, while supporting greater retail participation and the development of technology-driven solutions within the market.
Commenting on the review, the Managing Director/Chief Executive Officer of CSCS, Shehu Yahaya Shantali, said, “As Nigeria’s capital market continues to grow and evolve, we believe its infrastructure must continually respond to the needs of investors and market participants.”
