In a joint push to deepen financial inclusion in Nigeria, MTN Nigeria and the Central Securities Clearing System (CSCS) have rolled out a new USSD service, *7270#. Designed for investors without smartphones or consistent internet access, the tool is scheduled to go live on 8 May 2025 and promises to transform how retail investors interact with the stock market.
CSCS CEO, Haruna Jalo-Waziri, described the launch as a milestone in democratising capital market participation. “We are excited to launch the 7270# USSD code service, a significant step in leveraging mobile technology to democratise access to account and portfolio information. This service empowers every investor, regardless of their location or resources, to stay informed about their investments,” he said.
With this innovation, investors can retrieve their Clearing House Number (CHN), check Direct Cash Settlement (DCS) status, view stock positions, and monitor account balances—directly from their mobile phones. All of this can be done without the need for a smartphone or an internet connection, making it particularly useful for rural communities.
The service will initially be available only to MTN subscribers. However, CSCS has revealed plans to expand the offering to other networks soon. Aisha Mumuni, MTN Nigeria’s Chief Digital Officer, reinforced the company’s support for the rollout. “This collaboration with CSCS on the 7270# USSD service underscores MTN’s commitment to harnessing the power of mobile technology to simplify complex processes for our users,” she noted.
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[…] MTN Nigeria is gearing up to activate its new data centre before the end of the current quarter, as confirmed by the company’s Chief Technical Officer, Yahaya Ibrahim. Speaking in an interview, Ibrahim said the facility, which was announced in June 2024, forms part of the telco’s broader move to strengthen digital infrastructure across Nigeria. […]