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By Chukwuma Umeorah
The Central Securities Clearing System Plc (CSCS) has appointed Shehu Yahaya Shantali as its new Chief Executive Officer, effective January 1, 2026, subject to regulatory no-objection, marking the end of Haruna Jalo-Waziri’s eight-year tenure at the helm of Nigeria’s central securities depository.
The company said the leadership transition is part of a planned succession process, noting that Jalo-Waziri’s exit follows a period of operational expansion, systems upgrades and deeper engagement with regulators and market stakeholders across the Nigerian capital market.
CSCS in an official statement said Jalo-Waziri’s tenure was defined by the execution of key strategic initiatives that strengthened governance, improved operational efficiency and modernised core clearing and settlement processes, positioning the company for long-term stability. Commenting on the transition, Chairman of the Board, Temi Popoola, said the outgoing chief executive left behind a strong institutional base.
“On behalf of the Board, I would like to express our profound appreciation to Haruna Jalo-Waziri for his outstanding service to CSCS. Under his leadership, the Company recorded notable milestones and built an impressive legacy of operational excellence, innovation, and stakeholder confidence. We thank him sincerely for his dedication and impact,” Popoola said.
He said the board was confident that the incoming chief executive would consolidate on those gains. “We are equally delighted to welcome Shehu Shantali as the new Chief Executive Officer of CSCS. He brings a wealth of experience, deep industry knowledge, and a strong strategic vision. The Board is confident that he will build on the solid foundation laid by his predecessor and lead the Company into its next phase of growth,” he added.
Shantali brings over two decades of experience in accounting, finance and financial services across Nigeria and the United Kingdom, with exposure spanning capital markets, investment banking, real estate and digital financial services. He holds a Bachelor of Science degree in Accounting from Ahmadu Bello University, Zaria, and an Executive MBA from Kingster Business School.
A significant portion of his career was spent at the Securities and Exchange Commission (SEC) where he was involved in major regulatory reforms, including the migration of publicly listed and significant public interest entities from Nigerian GAAP to International Financial Reporting Standards, as well as the Commission’s transition to the contributory pension scheme in 2012.
Beyond regulation, CSCS noted that Shantali has led market-wide financial infrastructure projects focused on inclusion and access. As Managing Director and Chief Executive Officer of Apricot Investments Limited, he oversaw the development of the MicroWorld platform, which supports the distribution of structured financial products such as micro-health, micro-pension, micro-housing, micro-insurance and micro-investment solutions. He also played roles in early payment and settlement innovations, including Nigeria’s first contactless payment solution, POS-based agency banking and mobile-money interoperability on the Nigeria Inter-Bank Settlement System NIBSS Instant Payment platform.
Reflecting on his exit, Jalo-Waziri said his tenure was marked by collective effort and institutional support. “It has been an honour to serve as the Chief Executive Officer of CSCS.
I am proud of what we have achieved together as a team and grateful for the support of the Board, management, regulators, and all our stakeholders.
I am confident that CSCS is well positioned for the future, and I wish my successor every success as he takes the Company forward,” he said.
In his acceptance remarks, Shantali described CSCS as central to the stability and growth of Nigeria’s capital market. “I am deeply honoured by the confidence the Board has placed in me with this appointment. CSCS plays a critical role in Nigeria’s capital market ecosystem, and I look forward to working with the Board, management, staff, regulators, and market participants to further strengthen the Company’s leadership position, deliver value to stakeholders, and support the continued growth and stability of the capital market,” he said.
CSCS, which serves as the central securities depository for equities, bonds, exchange-traded funds, mutual funds, commodities and other instruments, said it remains committed to high standards of corporate governance and operational efficiency as it supports ongoing reforms in the Nigerian capital market.
