On
behalf of the Shareholders, Management and Staff of Central Securities Clearing
System (CSCS) Ltd, I welcome you to this auspicious occasion of the official
opening of the CSCS Digital Data Storage and Retrieval Center, a service of
necessity. This project was conceived by CSCS Ltd. Primarily to fill a void in
the business environment in Nigeria and the West African Sub-region and to keep
pace with the global trend in information and communication technology (ICT).
This project is a notch-up by CSCS Ltd after it successfully achieved her
mission, which is, to operate a Central Securities Depository (CSD) that is
efficient, investor-friendly, transparent and cost effective in a world that
has been reduced to a global village by information Technology with a dynamic
integration of the needs of the domestic and foreign investors in the Nigerian
capital market. The
idea behind this Project is to reduce the costly dependence on paper as a
medium of recording or information storage by companies, organizations and
governments. No doubt, economic activities and documentations continue to grow.
And therefore, there continues to be the growth of large volumes of information
both in hard and digital format.
These need to be securely stored and easily retrievable when needed
on-line, real-time in order to void the loss of pertinent statistics and to
improve information management.