CSCS Plc Names New Chief Executive Officer

The Central Securities Clearing System (CSCS) Plc has appointed Mr. Shehu Shantali as its new Chief Executive Officer, effective 1 January 2026, following the conclusion of the tenure of the outgoing CEO, Haruna Jalo-Waziri.

According to a company statement, the appointment was made after obtaining regulatory approval. Jalo-Waziri, who served for eight years, notably oversaw Nigeria’s transition to a T+2 settlement cycle in the capital market.

Commenting on the development, the Chairman of the Board, Mr. Temi Popoola, said, “On behalf of the Board, we extend our sincere appreciation to Haruna Jalo-Waziri for his outstanding service to CSCS. Under his leadership, the company achieved significant milestones and built a legacy of operational excellence, innovation, and stakeholder confidence.

“We are equally pleased to welcome Shehu Shantali as the new CEO. He brings extensive 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 CSCS into its next phase of growth.”

Shantali holds a Bachelor of Science degree in Accounting from Ahmadu Bello University, Zaria, and an Executive MBA from Kingston Business School. With over two decades of experience in accounting, finance, and financial services in Nigeria and the United Kingdom, his expertise spans investment and asset management, financial advisory, and International Financial Reporting Standards.

His career includes key roles in capital markets, investment banking, real estate, and financial services, highlighted by a decade at the Securities and Exchange Commission Nigeria, where he led the migration of public entities from Nigerian GAAP to IFRS and oversaw the transition to the contributory pension scheme in 2012.

At Apricot Investments Limited, as Managing Director and CEO, Shantali spearheaded the development of the MicroWorld platform, which enables the distribution of structured financial products including micro-health, micro-pension, micro-housing, micro-insurance, and micro-investment solutions. Earlier in his career, he contributed to the development of Nigeria’s first contactless payment solution and played a pioneering role in POS-based agency banking and early mobile-money interoperability via the NIBSS NIP platform.

The outgoing CEO, Jalo-Waziri, has been credited with providing visionary leadership that delivered sustained growth and transformational initiatives across CSCS, strengthening governance, operational efficiency, and modernising company systems and processes. He significantly enhanced stakeholder confidence, both locally and internationally, leaving a strong foundation for the company’s future.

Reflecting on his tenure, Jalo-Waziri said, “It has been an honour to serve as CEO of CSCS. I am proud of our achievements and grateful for the support of the Board, management, regulators, and all stakeholders. I am confident that CSCS is well-positioned for the future and wish my successor every success.”

The incoming CEO, Shantali, commented, “I am deeply honoured by the Board’s confidence in me. CSCS plays a vital role in Nigeria’s capital market ecosystem, and I look forward to collaborating with the Board, management, staff, regulators, and market participants to strengthen the Company’s leadership, deliver value to stakeholders, and support the continued growth and stability of the capital market.”

CSCS Plc serves as the central depository for equities, commercial papers, corporate bonds, sub-national bonds, selected sovereign bonds such as the FGN Sukuk and FGN Savings Bond, exchange-traded funds, real estate investment trusts, mutual funds, and commodities.