News

Jalo-Waziri reappointed for five-year term

…seeks to consolidate on transformation

 

The Board of Directors of Central Securities Clearing System (CSCS) Plc has announced the reappointment of Haruna Jalo-Waziri as Managing Director/Chief Executive Officer for another term of five years, effective November 1, 2021.

 

According to a statement from CSCS, the reappointment comes after four successful years of transformative leadership, which has led to enhanced productivity and value creation at Nigeria’s Premier and dominant capital market infrastructure.

 

In 2017, Jalo-Waziri took over from the Interim Chief Executive Officer, Mr Bola Adeeko, with a 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, Haruna 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, despite the pandemic.

 

Jalo-Waziri and his team have repositioned CSCS as a market-oriented and client-centric organisation, which has proven effective in enhancing operational excellence, extracting efficiency gains and deepening stakeholder engagements, all of which are critical for the long-term sustainability of CSCS as a financial market infrastructure.

 

Speaking on the reappointment, Oscar Onyema, Chairman of CSCS, noted: “The Board is impressed with Mr. 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 Mr. 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.”

 

Commenting on his reappointment, Jalo-Waziri said: “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.

 

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