A new partnership will allow Nigerians to access stock trading in Nigeria via USSD
It could nudge Nigeria’s capital market into a more inclusive and participatory future.
Not having a smartphone in Nigeria has long meant being locked out of digital finance, especially when it comes to investments.
But that’s about to change. The Central Securities Clearing System (CSCS), in partnership with MTN Nigeria, is rolling out *7270#, a USSD code that gives users access to the stock market without needing internet. The service goes live on May 8, 2025.
Henry Chikwem
For millions of Nigerians in remote areas or without internet-enabled phones, this could offer a new way to access basic investment information. With a simple dial, users can check stock balances, view positions, retrieve their Clearing House Number (CHN), and confirm settlement status using a standard feature phone.
This move echoes what happened in Kenya with M-Pesa. Since 2007, M-Pesa has used USSD codes to help millions handle mobile money. In 2017, it went a step further by allowing users to buy government bonds via *889#, through a service called M-Akiba. Now Nigeria is taking a similar leap.
Oluwaseun Bamisile
Despite having a population of over 200 million, Nigeria has only around 86,000 active capital market investors, as contained in a report by Punch News in 2024. That’s less than 5% of the adult population. This could be a powerful boost for investor inclusion.
Haruna Jalo-Waziri, CEO of CSCS, said the launch “democratises access” and gives every investor, no matter their resources, a chance to stay informed. MTN’s Chief Digital Officer, Aisha Mumuni, added that making investment tools available “at the touch of a button” can simplify complex processes and boost market transparency.
Initially limited to MTN users, the service is expected to roll out to other networks soon. Still, the broader takeaway is clear: with USSD-powered solutions, financial tools may become more accessible and more equitable.
If executed right, this could nudge Nigeria’s capital market into a more inclusive and participatory future.
