As part of efforts to democratise access to investment information and deepen financial inclusion in Nigeria, the Central Securities Clearing System Plc (CSCS) has unveiled *7270#, a new USSD code service designed to simplify and enhance investor engagement in the capital market.
The service will go live on May 8, 2025, starting with users on the MTN Nigeria network. The initiative is a strategic move by CSCS to provide real-time access to critical market information, particularly for retail investors and stakeholders in remote or underserved areas where internet penetration remains low.
The USSD service allows investors to retrieve their Clearing House Number (CHN), check their Direct Cash Settlement (DCS) status, view stock positions, confirm account balances, and verify the status of their accounts, all without the need for a smartphone or internet connection. Speaking at the launch, CSCS Managing Director and Chief Executive Officer, Haruna Jalo-Waziri, emphasised the importance of the new service in bridging information gaps and enhancing investor confidence. “We are excited to launch the *7270# USSD code service, which represents a significant leap in leveraging mobile technology to democratize access to account and portfolio information.
“This service empowers every investor, regardless of their location or available resources, to remain fully informed and actively engaged in managing their investments,” he said. He stated that the collaboration with MTN Nigeria was instrumental in ensuring widespread accessibility, given the network’s extensive coverage and user base. “Our partnership with MTN Nigeria reflects our shared commitment to financial inclusion. By using a widely accessible platform like USSD, we are expanding the frontiers of market participation and ensuring that investment services are no longer limited to those with advanced digital tools,” Jalo-Waziri stated. The USSD code service is designed to be secure, user-friendly, and fast, ensuring that investors can access essential market data on demand. It also aligns with CSCS’s broader digital transformation agenda and its long-standing role in modernizing Nigeria’s capital market infrastructure. Chief Digital Officer of MTN Nigeria, Aisha Umar Mumuni, noted that the collaboration underscores MTN’s dedication to supporting fintech innovation that drives economic empowerment.
“This partnership with CSCS is a clear example of how mobile technology can simplify traditionally complex processes.
By making investment information accessible at the touch of a button, we are not only improving user experience but also strengthening transparency and trust in the market,” she said. While the USSD service is currently limited to MTN users, CSCS has confirmed plans to roll it out across other telecommunications networks in the near future to ensure even broader access. This development comes at a time when regulators and market operators are intensifying efforts to attract more retail investors and boost participation in the Nigerian capital market.
By addressing the barriers posed by limited digital infrastructure and literacy, the CSCS USSD service is expected to play a vital role in supporting the Securities and Exchange Commission’s (SEC) financial inclusion agenda. For over two decades, CSCS has been at the heart of Nigeria’s capital market evolution, serving as the Central Securities Depository (CSD) for equities, bonds, mutual funds, commodities, and other tradable instruments. Its pioneering efforts in dematerialising share certificates, shortening the settlement cycle, and deploying cutting-edge technology have significantly enhanced market efficiency and transparency. With the introduction of the *7270# USSD code, CSCS continues to affirm its commitment to investor empowerment, market innovation, and inclusive economic growth.
