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 long-standing T+3 cycle represents a significant milestone in the ongoing modernisation of Nigeria’s post-trade infrastructure and reflects the market’s collective commitment to global best practices.
With the implementation of T+2, all trades executed from today will now settle two business days after the trade date. This achievement strengthens operational efficiency, enhances market liquidity, and significantly reduces counter-party risk, ultimately improving investor experience and ensuring quicker access to funds and securities. The transition also positions Nigeria more competitively within the global capital market landscape, where shorter settlement cycles are increasingly becoming the standard.
Managing Director and Chief Executive Officer of CSCS, Haruna Jalo-Waziri expressed confidence in the readiness of the market. “The successful commencement of the T+2 settlement cycle is the product of extensive collaboration, rigorous testing, and the unwavering commitment of all market stakeholders. We are proud to lead this change at a time when efficiency and resilience are critical pillars for market competitiveness.”
He further added, “As we embrace the T+2 framework, we are unlocking efficiencies that will shape the future of Nigeria’s capital market for years to come. This milestone sends a clear message that the Nigerian market is evolving, forward-thinking, and determined to match and surpass global benchmarks in post-trade operations.”
CSCS has worked closely with the Securities and Exchange Commission (SEC), exchanges, market operators, custodians, and key trade associations to ensure 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 ahead of today’s launch.
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