The Securities and Exchange Commission (SEC) has announced that the Nigerian capital market will transition to a T+2 settlement cycle for equities transactions starting from Friday, November 28, 2025.
This move aims to align the market with global best practices and enhance efficiency.
According to the SEC, the transition from the current T+3 settlement cycle has been months in the making, with extensive testing and stakeholder engagement.
The new system is expected to provide investors with quicker access to funds, enhance market liquidity, and reduce counterparty risk exposure, ultimately fostering a more stable and resilient market environment.
The Central Securities Clearing System (CSCS) Plc, the central counterparty, has dedicated significant resources to ensure a seamless transition.
Extensive testing with market participants has been successfully conducted without any reported issues, demonstrating high confidence in the market’s preparedness for the change.
Under the new system, all trades executed on Friday, November 28, 2025, will settle on Tuesday, December 2, 2025, while transactions carried out before that date will continue to follow the existing T+3 schedule.
This means that trades executed on Thursday, November 27, will also settle on December 2, coinciding with the first batch of T+2 settlements.
The SEC reaffirmed its commitment to building a modern, efficient, and transparent capital market, engaging stakeholders to drive further improvements and strengthen Nigeria’s position as an attractive investment destination.
For further information, the Commission advised stakeholders to contact emidivision@sec.gov.ng.
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