Nigeria’s capital market has recorded a major milestone with the official launch of the T+1 settlement cycle by the Central Securities Clearing System (CSCS) Plc, marking the country’s transition from a two-day settlement framework to a next-business-day settlement system.
The new settlement regime, unveiled at a market-wide ceremony attended by the Securities and Exchange Commission (SEC), Nigerian Exchange Group (NGX Group), stockbrokers, custodians, registrars and institutional investors, means that securities transactions executed on a trading day will now be completed on the following business day. Market stakeholders say the move is expected to enhance liquidity, improve operational efficiency and boost investor confidence by reducing the time between trade execution and settlement. Speaking at the event, SEC Director-General, Dr. Emomotimi Agama, described the development as a watershed moment for Nigeria’s capital market, noting that it aligns the market with global best practices and reinforces efforts to strengthen investor protection and long-term market growth.
