The Central Securities Clearing System (CSCS) says Nigeria’s capital market will migrate to a T+2 settlement cycle from November 28, following approval by the Securities and Exchange Commission (SEC).
Haruna Jalo-Waziri, the chief executive officer (CEO) of CSCS, announced the development in a statement on Wednesday.
T+2 settlement is a financial market process where the exchange of ownership of a security (like a stock) for money is completed two business days after the trade date.
Jalo-Waziri described the move as a major milestone that would align the local market with global standards.
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He said the new settlement cycle, which replaces the current T+3 system, is expected to enhance liquidity, cut counterparty risk, and strengthen investor confidence.
“The transition to T+2 is a major milestone for the Nigerian capital market and reflects the collaborative spirit of our ecosystem,” Jalo-Waziri said.
“This shift aligns our market with global best practice while strengthening efficiency, resilience, and investor trust. CSCS is proud to coordinate this journey with the support of regulators, exchanges, and stakeholders.”
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He said the settlement cycle review committee (SCRC), coordinated by CSCS, carried out a multi-phase assessment and submitted its framework to the SEC for review and approval.
To prepare stakeholders, he added that a webinar, themed ‘Advancing Market Efficiency Through T+2 Settlement’, will be held on September 10, featuring the SEC director-general and heads of Nigeria’s securities exchanges.
Jalo-Waziri said stakeholders are invited to register via this link.
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