The Central Securities Clearing System Plc (CSCS), Nigeria’s premier capital market infrastructure, has officially commenced the T+2 settlement cycle in the Nigerian capital market.
This transition, effective Friday, November 28, 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.
CSCS worked closely with the Securities and Exchange Commission (SEC), Exchanges, market operators, custodians, and key trade associations to ensure smooth implementation.
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With the implementation of T+2, all trades executed from Friday 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.
Haruna Jalo-Waziri, Managing Director and Chief Executive Officer, CSCS said, “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.”
Read also: SEC to begin T+2 settlement cycle in Nigerian capital market Nov. 28
Jalo-Waziri 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.”
The T+2 transition marks another bold step in CSCS’s long-standing mission to drive innovation and operational excellence across Nigeria’s capital market.
As the market adjusts to this new settlement environment, CSCS said it remains committed to providing continuous support and guidance.