Nigerians To Pay More As CSCS Announces Increase in Fees, Charges
- CSCS has raised 2026 fees sharply, including OTC trades and custody services
- OTC fees jumped 3,233% as custody charges shifted to asset-based pricing
- The overhaul targets institutions with new API and digital service fees
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigeria’s Central Securities Clearing System (Central Securities Clearing System) has announced a sweeping overhaul of its fee structure for 2026.
The revised schedule of fees shows notable increases in transaction costs, onboarding charges, and custody-related services, alongside the introduction of new service categories such as API monetisation and investor segmentation tiers.
Source: Getty Images
The changes, some of which run into thousands of percentage points, reflect a broader strategy to boost revenue and align charges with transaction value and market activity.
Key fee adjustments
Under the new structure, several core market charges recorded steep increases:
- OTC trade fees surged from N15 per million to N500 per million, a 3,233% rise
- Custody charges moved from a flat fee of N1,300 to 0.03% of transaction value
- Custodian code creation rose from N72,800 to N250,000
- Settlement bank onboarding increased from N15.6 million to N25 million
- Corporate onboarding climbed from N20,000 to N100,000
- Margin account onboarding rose from N50,000 to N200,000
- Renewal fees across multiple categories increased
Retail-facing services were also affected, though with comparatively smaller increases. Stock statements rose from N700 to N1,000, while changes to account details and related services increased from N1,000 to N3,000.
A full breakdown of the new fees can be found here.
Source: Getty Images
What do the new fees mean?
Market analysts say the new pricing structure could reshape cost dynamics in Nigeria’s capital market, potentially increasing operational costs for brokers and investors while strengthening CSCS’s revenue base.
However, concerns remain that higher fees could weigh on trading activity and market participation if not balanced with efficiency gains and improved service delivery, Nairametrics reports.
Stock market opens new week strong
Meanwhile, investors on the Nigerian stock market had reasons to smile as the new week started the new week strong, as the market’s overall capitalisation rose to N131.609 trillion.
Also, the NGX All-Share Index (ASI) gained 688.43 points to close at 204,458.86 points, representing a 0.34% increase.
Dangote unveils plans to sell refinery shares to Nigerians
Legit.ng earlier reported that Aliko Dangote is preparing to open a new chapter in Nigeria’s investment landscape as he moves to list his $20 billion refinery on the Nigerian Exchange (NGX) in 2026.
The industrialist revealed that Nigerians will be able to buy shares in naira but earn dividends in US dollars, a rare structure that could reposition how local investors preserve value in a volatile currency environment.
The structure, he said, is being designed to give everyday Nigerians access to a dividend stream previously available only to global investors.
Source: Legit.ng
