The Central Securities Clearing System (CSCS) Plc and the Nigerian Exchange Limited (NGX) announced on Wednesday that Nigeria’s capital market will transition to a two-day securities settlement cycle (T+2), effective November 28, 2025.
The move is designed to enhance market efficiency, reduce counterparty risk, and align Nigeria’s capital market with global standards.
Speaking at a stakeholder webinar themed “Advancing Market Efficiency through Two-Day Settlement,” Bola Ajomale, Executive Commissioner (Operations) at the Securities and Exchange Commission, said the regulator plans to move further to a T+1 cycle in 2026 and ultimately same-day settlement. “We urge all market participants to prepare for this shift and adequately engage their clients. This initiative is a critical component of our broader reforms aimed at enhancing global competitiveness,” he stated.
Adeyinka Shonekan, Executive Director representing the CSCS Managing Director/CEO, said a stakeholder-driven committee has carried out gap analysis and benchmarking to ensure a seamless transition. “Our priority is to deliver a smooth experience for all market operators,” she added.
Jude Chiemeka, CEO of NGX, noted that the Exchange had conducted market-wide simulations, proactive communications, and put in place support systems to ensure readiness for the November rollout. Other market platforms, including the Lagos Commodities and Futures Exchange and NASD Plc, also confirmed their preparedness through testing, training, and stakeholder engagement.
Onome Komolafe, Divisional Head of CSCS Depository, said the institution had upgraded infrastructure, reviewed processes, and strengthened its risk management and compliance framework to support the new regime.
Analysts say the shift to T+2 will modernise Nigeria’s capital market infrastructure, cut operational inefficiencies, and boost investor confidence.
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