The Central Securities Clearing System (CSCS) has made a significant stride towards enhancing financial inclusion with the introduction of a new USSD code, *7270#, in collaboration with MTN Nigeria. This innovative service, set to launch on May 8, 2025, aims to simplify access to investment services for individuals without Internet connectivity, particularly those in remote areas or without smartphones.
Through the *7270# USSD code, investors can conveniently access essential information such as their Clearing House Number (CHN), Direct Cash Settlement (DCS) status, stock holdings, and account balances directly from their mobile phones. This eliminates the need for Internet access or specialized trading platforms, making it easier for a wider range of individuals to participate in the stock market.
Haruna Jalo-Waziri, the CEO of CSCS, expressed enthusiasm about the launch of this USSD code service, highlighting its role in democratizing access to account and portfolio information. He emphasized that this initiative empowers every investor, regardless of their location or resources, to stay informed about their investments.
Aisha Mumuni, Chief Digital Officer at MTN Nigeria, underscored the collaborative effort between CSCS and MTN in simplifying complex processes for users through mobile technology. By providing critical investment information at the touch of a button, the *7270# USSD service aims to enhance investor engagement, market transparency, and accessibility to the capital markets.
Initially, the service will be available exclusively to MTN subscribers, with plans to extend access to users on other mobile networks in the near future. This initiative aligns with broader efforts to modernize Nigeria’s capital market infrastructure and promote financial inclusivity.
By leveraging mobile technology, CSCS and MTN Nigeria are paving the way for a more straightforward and accessible means for all investors to engage with the capital market. This not only fosters greater participation but also contributes to economic empowerment across diverse demographics. The launch of the *7270# USSD code signifies a step towards a more inclusive and digitally-driven financial landscape in Nigeria.
