The Central Securities Clearing System (CSCS) has partnered with MTN Nigeria to introduce a USSD code aimed at simplifying access to crucial investment services via mobile phones.
The code, *7270#, is set to be launched on May 8, 2025, utilizing MTN’s network infrastructure.
As per CSCS, the USSD service aims to decrease dependence on internet connectivity or specialized trading platforms by enabling users to obtain market data directly via their mobile phones.
By using the *7270# code, customers can obtain their Clearing House Number (CHN), verify the status of their Direct Cash Settlement (DCS), inspect their stock holdings, review account balances, and check the condition of their accounts.
Managing Director and Chief Executive Officer of CSCS, Haruna Jalo-Waziri, described the introduction of the USSD service as a step toward improving accessibility in the investment space.
He pointed out that the service aims to simplify how investors can obtain crucial data even when they lack an online connection.
“We are introducing the *7270# USSD code service to enhance accessibility to account and investment details,” he stated. “With this service, every investor can remain informed about their holdings irrespective of their geographical position or financial means,” he added.
Aisha Umar Mumuni, Chief Digital Officer at MTN Nigeria, noted that the partnership aligns with MTN’s efforts to simplify services through mobile platforms.
She said, “Through the provision of investment data via a USSD code, our aim is to facilitate wider participation in capital markets and simplify staying updated for users.”
Provided by SyndiGate Media Inc.
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