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CSCS board renews Jalo-Waziri’s appointment for another 5 years

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Oscar Onyema
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The Board of Directors of the Central Securities Clearing System (CSCS) Plc has announced the reappointment of Mr Haruna Jalo-Waziri as the Managing Director/Chief Executive Officer.

The reappointment is for another five-year term, effective Nov.1.

The Chairman of CSCS, Mr Oscar Onyema, said this in a statement made available to the News Agency of Nigeria (NAN) on Tuesday in Lagos.

Onyema said Jalo-Waziri’s reappointment followed a successful four-year term of his outstanding performance and exemplary leadership style.

“The board is impressed with Jalo-Waziri’s performance at CSCS over the past four years and it has been exciting working with the executive management team under his leadership.

“More so, we believe that the foundation the team has built, positions the company for its next growth phase. That is why we are aiming to consolidate on our gains and diversify the business for sustainable growth.

“On behalf of the board, I congratulate Jalo-Waziri on this reappointment, which reflects our vote of confidence and greater expectations from him in creating value for shareholders and broader stakeholders of CSCS,” Onyema said.

Commenting on his reappointment, Jalo-Waziri thanked the board for the confidence reposed in him.

“I would like to thank the Board of Directors for this reappointment.

It’s a vote of confidence in my team, whose tenacity and ingenuity are my greatest motivation and confidence.

“I am tremendously proud of the talent pool we have built here at CSCS. As we set out to diligently execute on our next growth strategy,

“I am super excited at the future of this great institution and look forward to deepening our partnership with different stakeholders for mutual prosperity.

“I would continue to count on the support of our apex regulator, the Securities and Exchange Commission; our board of directors; participants and other stakeholders in deepening the Nigerian capital market for our mutual growth.

“It has been an excitingly challenging journey and the grass keeps getting greener at every turn,” he said.

Jalo-Waziri took over leadership of CSCS in 2017 from the Interim Chief Executive officer, Mr Bola Adeeko, with a clear mandate to drive the next phase of CSCS’s strategic journey.

Over the last four years, the company has seen a major boost in its revenue base as well as built strong strategic alliances with other financial market entities across Africa.

With the oversight of the board and a fully dedicated management team, Jalo-Waziri led the growth of CSCS’s profit by 18 per cent CAGR and delivered a 20 per cent return on average equity in 2020 financial year, in spite of the pandemic.

Jalo-Waziri was previously the Executive Director, Capital Markets at the Nigerian Stock Exchange (now Nigerian Exchange Group Plc), where he led cross-functional teams responsible for the recovery of primary and secondary markets between 2012 and 2017.

He co-managed a number of initiatives at the Exchange, including the launch of the Premium Board, strategic partnership of the London Stock Exchange with the Nigerian Stock Exchange and development of the Nigerian Savings Bond, Sukuk Bond and Green Bond, amongst several other market-wide initiatives. (NAN)

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Business & Economy

Mangal Cement Reiterates Commitment to Consistence Quality, Tightens Relationship with Stakeholders

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The General Manager, Sales and Marketing, Omowunmi Goriola Oduguwa Monday, July 14th, 2025 addresses Annual Stakeholders Forum, Abuja
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By AbdulRahman Obaje

Mangal Cement has reiterate its commitment to consistence quality while reinforcing its relationship with it stakeholders.

The General Manager, Sales and Marketing, Omowunmi Goriola Oduguwa made this known Monday, July 14th, 2025 during this year Annual Stakeholders Forum, Abuja.

Omowunmi said, “We are here today basically because of this title: ‘building stronger partnership, quality trading solution and value for money’. We are here; number one, to tighten the collaboration that we’ve been having with our stakeholders. We know that we’ve been having relationship with you by virtue of the fact that you are partner to our business, you are using our brand; that automatically has clarify the fact that we are in partnership”

”We don’t just want it to be like that, we want it to be tighter, so we want to strengthen that collaboration, we want it to be tighter. That is why we are here and that is why we have invited you to be part of this event.”

“And secondly. We are also here to reaffirm the consistency in quality and innovation. We want to assure you that our quality remain the way it has ever been since inception; since we started production. My colleague said this is first of its kind; I mean the stakeholder forum we are having. But obviously this is first of its kind in Abuja environment. And I want to also appreciate us for being part of this very first one.”, she continued.

Participants also expressed satisfaction with Mangal product. Obastar Block Industry Said the cement is very good. He said, “People should join in using it, we have been using it. The cement is good. We have been using other cements but since we have tried Mangal cement, we have not been disappointed.”

“The only place they need improvement is setting, outside that, the cement is very good.” he concluded.

Olayinka AbdulWahid, IBZA Blocks said, “Mangal cement is very good in terms of quality and durability.

The blocks that we produced with Mangal cement, the customer actually vouch for. I have some few friends that whenever they want to cast, they always request that make Mangal cement available.

So, in terms of quality, it is a very good quality/ the only challenge we have is the availability and most of the time the delivery is very very poor in which sometimes, some of us we are unable to wait. we have to look for alternative product.

But with this seminar we attend today, if we can have access to more of the vendor or more of the distributor, we can have alternative demand.

So, that is the only challenge, the availability.”

However, Omowunmi further revealed that Mangal Industries is not slowing down on innovation and quality assurance, asserting that this is the reason for the forum, so as “to reaffirm our commitment to quality and innovation as an organisation.”, she continued.

The forum saw notable personalities such as Engr. Yusuf Ibrahim, Industrial Training Fund, Silifa Shagaya, SON and others in attendance

High point of the event was the distribution of wheelbarrows and protective gears to all the participants of the stakeholder forum.

 

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Business & Economy

Nigerian Economy Stabilising — CBN Governor, Cardoso

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CBN Governor Yemi Cardoso
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The governor of the Central Bank of Nigeria, Olayemi Cardoso, has said the Nigerian economy has stability.
He disclosed this at the press briefing at the end of its 300th Monetary Policy Committee meeting on Tuesday.

According to him, investors’ confidence in the Nigerian economy has improved over the past eighteen months.

Responding to questions on how improved macroeconomic fundamentals of the Nigerian economy are impacting the lives of Nigerians, he said, “Investors do not go to where there is economic instability. They don’t go out to lose money but to make a profit. With that stability comes confidence and then investment and growth.

“What is now being recognised is that the Nigerian economy is not stable. The inflation numbers speak for themselves.”

Recall that the World Bank, in its latest Nigerian Development Update report, said the country is in good shape as it grew by 3.4 percent in 2024.

 

 

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 CBN Retains Nigeria’s Interest At 27.50%

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Yemi Cardoso,CBN Governor
Yemi Cardoso, CBN Governor
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The Central Bank of Nigeria Monetary Policy Committee has retained the country’s interest rate at 27.50 percent.

The governor of CBN, Olayemi Cardoso, disclosed this in a press briefing on Tuesday after the 300th MPC meeting in Abuja.

“The committee unanimously agreed to retain MPR at 27.50 percent,” he stated.

Cardoso also announced that the MPC member decided to retain the Cash Reserve Ratio (CRR) at 50 basis points for commercial bank and 16 percent for mortgage bank, the liquidity ratio (LR) at 30 percent, and the asymmetric corridor at +500/-100 basis points around the MPR; other monetary policy decisions were retained.

He justified MPC’s decision to pause the rate hike on the easing of Nigeria’s inflation rate to 23.7 percent in April.

it would be recalled that last week the National Bureau of Statistics consumer price index showed that country’s inflation dropped by 23.7 percent.

In February, the MPC retained the country’s interest rate at 27.50 percent as inflation cooled off.

 

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