An International Securities Identification Number (ISIN) is a 12-digit alphanumeric code that uniquely identifies a specific security. Its structure is defined in ISO 6166. An ISIN code assists with identification and cross border communication between various exchanges.
ISINs consist of the following:
- Two alphabetic characters, which are the ISO 3166-1 alpha-2 code for the issuing country (for Nigeria the code is “NG”).
- The basic code, which is nine characters (alphanumeric) in length.
- One numerical check digit.
ISINs are allocated by a country’s respective national numbering agency (NNA). CSCS is the sole National Numbering Agency (NNA), licensed by the Association of National Numbering Agency (ANNA), in Nigeria.
![](https://new.cscs.ng/wp-content/uploads/2022/09/ISIN-min.png)
The ISIN Issuance Process
Issuer pays the ISIN/Symbol creation fee
Issuer provide the details of the security and evidence of fee payment to CSCS
CSCS creates the ISIN for the security and advice the issuer
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