MTN and CSCS launch *7270# USSD code to make inventory buying and selling accessible

The information

• CSCS introduces USSD code *7270# to facilitate funding entry with out Web.
• The service permits customers to examine Clearing Home Quantity (CHN), Direct Money Settlement (DCS) standing, inventory holdings, and account balances.
• The service is initially accessible to MTN subscribers, with plans to increase to different networks.

In a transfer to broaden monetary inclusion, the Central Securities Clearing System (CSCS) has partnered with MTN Nigeria to launch a USSD code, *7270#, enabling traders to entry funding providers with out Web connectivity. Set to go stay on Might 8, 2025, this initiative goals to make inventory market participation extra accessible, significantly for people in distant areas or these with out smartphones.

Haruna Jalo-Waziri, CEO of CSCS, emphasised the importance of this growth, stating, “We’re excited to launch the *7270# USSD code service, a major step in leveraging cellular know-how to democratise entry to account and portfolio info. This service empowers each investor, no matter their location or sources, to remain knowledgeable about their investments.” 

The USSD service permits customers to retrieve their Clearing Home Quantity (CHN), confirm Direct Money Settlement (DCS) standing, view inventory positions, and make sure account balances instantly from their cellphones. This eliminates the necessity for Web entry or specialised buying and selling platforms, making it particularly helpful for people in rural areas or these with out smartphones.

Aisha Mumuni, Chief Digital Officer at MTN Nigeria, highlighted the collaborative effort, noting, “This collaboration with CSCS on the *7270# USSD service underscores MTN’s dedication to harnessing the facility of cellular know-how to simplify complicated processes for our customers. By making important funding info accessible on the contact of a button, we’re serving to to democratise entry to the capital markets and, within the course of, improve investor engagement and market transparency.” 

Initially, the service will likely be unique to MTN customers, however CSCS plans to increase entry to customers on different cellular networks quickly. This initiative aligns with broader efforts to modernise Nigeria’s capital market infrastructure and promote monetary inclusivity.

By leveraging cellular know-how, CSCS and MTN Nigeria intention to offer a simple and accessible means for all traders to have interaction with the capital market, fostering larger participation and financial empowerment throughout numerous demographics.