The Central Securities Clearing System Plc (CSCS), Nigeria’s premier post-trade financial market infrastructure, has announced the appointment of Shehu Yahaya Shantali as its new Chief Executive Officer, effective January 1, 2026. Mr. Shantali succeeds Haruna Jalo-Waziri, who is retiring after an impactful eight-year tenure marked by strong leadership and significant progress in modernising the organisation’s systems and strengthening its role in the Nigerian capital market.
CSCS serves as the central clearing, settlement and depository institution for securities traded on the Nigerian capital market. It plays a vital role in ensuring that transactions involving equities, bonds, and other securities are processed safely and efficiently. The institution’s work underpins investor confidence, supports market liquidity and aligns Nigeria’s financial markets with international standards.
In a formal announcement, the Board of CSCS expressed deep appreciation for Mr. Jalo-Waziri’s contributions during his leadership. Under his watch, the company saw the successful execution of key strategic initiatives, strengthened operational effectiveness, and built strong market credibility both domestically and internationally. The Board also welcomed Mr. Shantali, highlighting his extensive experience and strong vision for the future of CSCS and the broader financial infrastructure ecosystem.
Mr. Shantali brings over two decades of experience in accounting, finance and financial services, having worked in both Nigeria and the United Kingdom. His career spans multiple domains such as investment and asset management, financial advisory services, and regulatory work. Notably, he spent a decade at the Securities and Exchange Commission (SEC) Nigeria. During that period, he led important initiatives, including the transition of major public interest entities to International Financial Reporting Standards (IFRS), and played a leading role in migrating the pension industry to the contributory pension scheme in 2012.
As Managing Director and CEO of Apricot Investments Limited, Mr. Shantali also led the development of MicroWorld, a platform focused on expanding financial inclusion. The platform enabled access to a suite of financial products—including micro-health, micro-pension, and micro-insurance, helping broaden access to financial services for underserved markets. His team also developed Nigeria’s first contactless payment solutions and helped pioneer point-of-sale (POS) agency banking and early mobile money interoperability, contributing to the evolution of digital payments and financial infrastructure in the country.
Speaking on his appointment, Mr. Shantali described the role as a deep honour and emphasised his commitment to building on CSCS’s strong legacy. He reiterated the importance of collaboration with the Board, management, regulators and market participants in enhancing the company’s position as a leading clearing and settlement provider.
The outgoing CEO, Mr. Jalo-Waziri, reflected on his time at the helm, expressing pride in what the team achieved and confidence in the organisation’s future trajectory. He highlighted the importance of continued innovation, strong governance, and strategic partnerships in strengthening market infrastructure.
Mr. Shantali’s appointment comes as Nigeria’s capital market is experiencing strong growth and increased transaction volumes, partly driven by innovations like the T+2 settlement cycle that enhances liquidity and reduces risk. This leadership change underscores the country’s efforts to deepen market efficiency and attract both domestic and foreign investment.
