CSCS Unveils USSD Code To Boost Investments
The Central Securities Clearing System Plc (CSCS) has announced the launch of *7270#, its Unstructured Supplementary Service Data (USSD) code service, set to go live on May 8, 2025.
The USSD code service is a solution designed to enhance the ease and accessibility of investment services for all users.
This service leverages the network capabilities of MTN Nigeria to bring convenience to investors.
According to a statement from the CSCS, the launch aims to revolutionise information access within the Nigerian capital market through this USSD code service.
As the Central Securities Depository (CSD), CSCS focuses on enhancing investor experiences and providing deeper market insights with unparalleled convenience.
The statement noted that the CSCS USSD code service offers seamless access to essential market information directly from mobile phones, eliminating the need for internet connectivity or specialised trading platforms. Investors can now effortlessly retrieve Clearing House Number (CHN), check Direct Cash Settlement (DCS) status, and view stock positions, account balances, and account status confirmations.
Managing Director and Chief Executive Officer of CSCS, Haruna Jalo-Waziri, said, “We are excited to launch the *7270# USSD code service, a significant step in leveraging mobile technology to democratise access to account and portfolio information. This service empowers every investor, regardless of their location or resources, to stay informed about their investments. At CSCS, we believe that financial inclusivity is key to driving economic growth.
“Our partnership with MTN Nigeria on this project represents a significant leap toward a more inclusive financial landscape, leveraging the spread of the MTN network. This collaboration enhances the investing experience, reinforcing our shared commitment to empowering individuals with the tools they need to manage their financial futures effectively,” he added.
He said that the CSCS USSD code service will initially be available to MTN users only.
However, he said that CSCS plans to expand this service to other networks soon. This innovative service offers investors streamlined and secure access to critical market information at their fingertips.
Chief Digital Officer of MTN Nigeria, Aisha Umar Mumuni, commented, “This collaboration with CSCS on the *7270# USSD service underscores MTN’s commitment to harnessing the power of mobile technology to simplify complex processes for our users. By making critical investment information available at the touch of a button, we are helping to democratise access to the capital markets and, in the process, enhance investor engagement and market transparency.”
CSCS Unveils USSD Code To Boost Investments is first published on The Whistler Newspaper
