The Central Securities Clearing System (CSCS) Plc has disclosed that Nigeria’s capital market would adopt the T+2 settlement cycle from November 28, following a directive by the Securities and Exchange Commission (SEC).
The chief executive of the Nigerian securities depository company, Mr Haruna Jalo-Waziri, said in a statement on Wednesday that the initiative marks a shift from the current T+3 cycle.
Mr Jalo-Waziri said the new cycle would align Nigeria’s capital market with global standards, describing the transition as a significant milestone for the market.
According to him, the T+2 cycle will enhance liquidity, reduce counterparty risk, and boost investor confidence.
“The transition to T+2 is a major milestone for the Nigerian capital market and reflects the collaborative spirit of our ecosystem.
“This shift aligns our market with global best practice while strengthening efficiency, resilience, and investor trust.
“CSCS is proud to coordinate this journey with the support of regulators, exchanges, and stakeholders,” he said.
Mr Jalo-Waziri said the Settlement Cycle Review Committee (SCRC), coordinated by CSCS, conducted a multi-phase assessment to design a robust implementation framework.
He added that the committee’s report had been submitted to the capital market regulator for review and approval, ensuring a smooth transition, noting that a webinar would be held to brief stakeholders, provide guidance, and ensure adequate preparation before the November 28 launch.
According to him, the webinar, themed Advancing Market Efficiency Through T+2 Settlement, will highlight the importance of this market-wide reform.
“The virtual event will be held on Wednesday, 10 September at 10.00 a.m., featuring SEC’s Director-General and heads of Nigeria’s securities exchanges.
“Stakeholders are invited to register via this link: https://us02web.zoom.us/webinar/register/WN_bGYP_NxrQM2dUjgW54SvBg#/registration,” the statement said.