CSCS SET TO PROMOTE E-BUSINESS AND E-GOVERNMENT IN NIGERIA
Nigeria has recorded yet another milestone with the recent establishment of the CSCS Digital Centre. According to the Managing Director of Central Securities Clearing System (CSCS) Limited Mr. Onyewuchi Asinobi, the CSCS Digital Centre is set to revolutionize the way Business Organizations and Government Institutions keep, store and retrieve their prized documents and data in Nigeria.
The CSCS Digital Centre is modeled after reputable Digital Storage and Retrieval banks in Europe and America. It provides an off-site, online solution for the organizations to convert their paper documents into secure electronic format, Digital Document Storage with seamless retrieval utilizing robust web solution, implementing disaster recovery policy and records management.
The centre will free up spaces in office, as paper documents need not be kept anymore and retrieval will be within seconds or a few minutes rather than the endless hours it takes to retrieves paper documents. Sensitive documents will no longer be destroyed by rodents, cockroaches, moisture or fire. Conversely the CSCS Digital Centre will serve as an effective off-site, online computer generated data bank. Thus, in the event of fire outbreak, earthquakes, computer crash and so on, each subscriber-company can retrieve its respective data in its complete form at the touch of a button from the CSCS Digital Centre. The Centre has an on-demand enterprise storage system which is highly scalable, while all storage media have storage retention capacity of lifecycle of at least 50 years. CSCS' professionally deployed storage facility is platform independent.
Onyewuchi Asinobi notes that the CSCS Digital Centre is the brainchild of Nigeria's capital market icon Dr Mrs. Ndi Okereke-Onyiuke OON, the Director General of the Nigerian Stock Exchange (NSE), and Apostile Hayford I. Alike, Chairman CSCS Board of Directors. CSCS as subsidiary of the NSE, has for nearly one decide operated a computerized depository, clearing, settlement and delivery system for transactions in shares in the Nigerian Stock Market. It has thus far conducted its operations to world acclaim.
Its operation of a digital centre is a natural next-step in its area of core competence. Asinobi recalls that it became compelling for his organisations to put up its world-class digital centre when it realised that by year 2005, storage consumed 13% to 17% by 2006/07. The figure he says will be much higher in a developing country like Nigeria.
With the CSCS Digital Centre, the incessant fire outbreaks in public buildings as well as hazards of power fluctuation will no longer pose a threat to the seamless continuity of business. The services of the company has since been subscribed to by some major organizations with more commencing discussions for enlistment.