The Central Securities Clearing System Plc (CSCS) has announced the official go-live of the T+2 settlement cycle in the Nigerian capital market, effective November 28, 2025.
This transition from the previous T+3 cycle represents a significant milestone in the modernization of Nigeria’s post-trade infrastructure and reflects the market’s commitment to global best practices.
With the implementation of T+2, all trades executed will now settle two business days after the trade date.
This change is expected to strengthen operational efficiency, enhance market liquidity, and reduce counter-party risk, ultimately improving investor experience and ensuring quicker access to funds and securities.
The CSCS worked closely with the Securities and Exchange Commission (SEC), exchanges, market operators, custodians, and key trade associations to ensure a smooth implementation.
Comprehensive readiness assessments, industry-wide testing, and participant engagements were conducted to guarantee that systems, processes, and operational frameworks were aligned with the new cycle.
The Managing Director and Chief Executive Officer of CSCS, Haruna Jalo-Waziri, expressed confidence in the readiness of the market and highlighted the benefits of the T+2 settlement cycle.
He emphasised that the transition unlocks efficiencies that will shape the future of Nigeria’s capital market and positions the country more competitively within the global capital market landscape.
The CSCS remains committed to providing continuous support and guidance to market participants and has made implementation procedures and guidelines available on its website to aid operational clarity and ensure seamless adoption.
The T+2 transition marks another bold step in CSCS’s long-standing mission to drive innovation and operational excellence across Nigeria’s capital market.
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