In a bid to align with global best practices, the management of Nigeria’s Securities and Exchange Commission (SEC) says the country’s capital market will officially transition to a T+2 settlement cycle for equities transactions from Friday, November 28, 2025, in a move designed to align with global best practices and enhance market efficiency.
A statement by Efe Ebelo, its Head External Relations, the Commission noted that besides enhancing market efficiency, the transition from the current T+3 (trade date plus three days) settlement cycle is now at the implementation stage following months of preparation and stakeholder testing.
According to the SEC, the “migration is expected to significantly enhance the Nigerian Capital Market by allowing investors quicker access to funds, thereby enhancing overall market liquidity and reducing counterparty risk exposure, thereby fostering a more stable and resilient market environment”.
It added that “as the central counterparty, CSCS Plc has dedicated considerable effort and resources to ensure seamless operational and technical readiness throughout the transition.
“Extensive testing with market participants has been successfully conducted without any reported issues, reflecting high confidence in the market’s preparedness for this landmark change”, it added.
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, adding that it will continue to engage stakeholders to drive further improvements and strengthen Nigeria’s position as an attractive investment destination.
