The Central Securities Clearing System (CSCS) Plc has stated that technology would play a key role in deepening Nigeria’s capital market.
The Divisional Head, Business Services and Client Relations, CSCS, Mrs Onome Komolafe, said this during a panel session with the theme: ‘Bank Recapitalisation: Bridging the Gap Between Investors and Issues in the Nigerian Capital Market’ at a workshop for Capital Market Correspondents held recently in Lagos.
Komolafe noted that the Nigerian Central Securities Depository has launched several tech interfaces to ease transactions in the capital market.
She said, “In terms of technology, in the last five years, CSCS has deployed a lot of Application Programming Interfaces (APIs). Let me not bore you about what APIs are, but a lot of infrastructure that enables brokers to be able to interface with the market without necessarily coming to CSCS.
“Today, you can do your account opening for your client from the comfort of your office. You don’t have to come to CSCS for most of this because different portals have been deployed. If you want to submit documents to CSCS, you don’t have to be there. So, we’ve deployed a lot of APIs to the market for self-service options.”
