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The Central Securities Clearing System Plc (CSCS) in Nigeria has launched a new USSD (Unstructured Supplementary Service Data) code, *7270#, to significantly boost financial inclusion for investors in the Nigerian capital market. This initiative, partnered with MTN Nigeria, aims to make investment services more accessible, especially for individuals in remote areas or those without internet access or smartphones.
How the CSCS USSD Code Promotes Financial Inclusion:
* Bypassing Internet Dependency: The core of this initiative is to remove the barrier of internet connectivity. USSD codes work on basic feature phones and do not require data, making capital market information available to a wider demographic, including those in rural areas or with limited digital literacy.
* Real-time Information Access: Investors can now access critical investment information directly from their mobile phones. This includes:
* Retrieving their Clearing House Number (CHN).
* Checking their Direct Cash Settlement (DCS) status.
* Viewing stock positions.
* Confirming account balances and status.
* Empowering Underserved Populations: By democratizing access to investment data, CSCS is empowering individuals who were previously excluded from the capital market due to technological or geographical limitations. This aligns with the broader financial inclusion agenda of the Securities and Exchange Commission (SEC) in Nigeria.
* Simplicity and User-Friendliness: USSD services are generally straightforward and easy to navigate, requiring minimal technical knowledge. This user-friendly interface further lowers the barrier to entry for new investors.
* Increased Transparency and Investor Engagement: Making essential market information readily available enhances transparency in the capital market. Informed investors are more likely to participate, fostering greater engagement and confidence in the market.
Initial Rollout and Future Plans:
The *7270# service initially launched on May 8, 2025, exclusively for MTN Nigeria subscribers. However, CSCS has stated its plans to expand this service to other telecommunications networks in the near future, further broadening its reach and impact.
This strategic move by CSCS demonstrates a commitment to leveraging mobile technology to modernize Nigeria’s capital market infrastructure and foster inclusive economic growth by empowering a larger segment of the population to participate in and manage their investments.

Video courtesy of First Bank of Nigeria

Video courtesy of First Bank of Nigeria