The Central Securities Clearing System (CSCS) has issued a directive to brokers to the effect that it would cease to send them their (brokers’) clients account statements. The shareholder is supposed, either through his/her broker or directly, to register with CSCS so he/she can access the statement online. Registration fee is fixed at N2, 500 per year.
This, coupled with some other important steps taken recently, like the introduction of e-bonus and the phasing out of share certificates, is expected to improve transparency in capital market operations thereby boosting market activities.

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