The Central Securities Clearing System Plc (CSCS) has announced the appointment of Shehu Shantali as its new Chief Executive Officer, effective 1 January 2026, following the receipt of regulatory no-objection.
Shantali succeeds Mr Haruna Jalo-Waziri, who will be stepping down after a successful eight-year tenure marked by strong leadership, strategic growth, and significant contributions to the development of Nigeria’s capital market infrastructure.
During his tenure, Jalo-Waziri provided visionary and results-driven leadership that delivered sustained growth and far-reaching transformation across the organization.
He led the successful execution of critical strategic initiatives, strengthened governance and operational effectiveness, and modernized the company’s systems and processes, positioning the organization for long-term resilience and competitiveness.
His leadership significantly enhanced stakeholder confidence deepened the organization’s market relevance both domestically and internationally, and established a strong, future-ready foundation for continued success.
Commenting on the appointment, the Chairman of the Board, Mr. Temi Popoola, said:
“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.
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.”
Shehu Shantali holds a Bachelor of Science degree in Accounting from Ahmadu Bello University, Zaria, and an Executive MBA from Kingster Business School.
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He has over two decades of experience in accounting, finance, and financial services across Nigeria and the United Kingdom, with expertise spanning investment and asset management, financial advisory, and International Financial Reporting Standards (IFRS).
His career cuts across capital markets, investment banking, real estate, and financial services, and is underpinned by a decade at the Securities and Exchange Commission (SEC) Nigeria, where he championed the migration of publicly listed and significant public interest entities from Nigerian GAAP to IFRS and led the Commission’s transition to the contributory pension scheme in 2012.
Shantali has built deep experience in financial inclusion, digital financial infrastructure, and the development of scalable, market-wide platforms that expand access to regulated financial services.
As Managing Director and Chief Executive Officer of Apricot Investments Limited, he led the development of the MicroWorld platform, enabling the distribution of structured financial products including micro-health, micro-pension, micro-housing, micro-insurance, and micro-investment solutions.
Earlier in his career, his team developed Nigeria’s first contactless payment solution, and he played a pioneering role in POS-based agency banking and early mobile-money interoperability on the NIBSS NIP platform, supporting efficient payments, settlement, and system-wide connectivity.
Reflecting on his tenure, the outgoing Jalo-Waziri, stated:
“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.”
In his remarks, the incoming CEO, Shantali, said, “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.”