Nigeria’s capital market is set for a major operational shift as the Securities and Exchange Commission (SEC) has announced that the country will transition to a T+2 settlement cycle for equities transactions, effective Friday, November 28, 2025.
The move, aimed at aligning the Nigerian market with global best practices, is expected to enhance liquidity, efficiency, and investor confidence by reducing the time between trade execution and settlement from three days (T+3) to two days (T+2).
In a statement released on Thursday, the SEC said the migration follows months of preparation, system upgrades, and successful stakeholder testing, marking the final stage of implementation.
According to the Commission, the adoption of T+2 will “significantly enhance the Nigerian Capital Market by allowing investors quicker access to funds, thereby improving liquidity and reducing counterparty risk exposure.”
The Central Securities Clearing System (CSCS) Plc, which serves as the central counterparty for the market, has reportedly ensured full operational and technical readiness for the transition. The SEC noted that “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.”
Under the new regime, all trades executed on Friday, November 28, 2025, will be settled on Tuesday, December 2, 2025. Transactions carried out before that date will continue to follow the existing T+3 timeline—meaning trades done on Thursday, November 27 will also settle on December 2, coinciding with the first T+2 settlements.
Reaffirming its commitment to building a modern, efficient, and transparent market, the SEC said it will continue to collaborate with stakeholders to strengthen Nigeria’s competitiveness and position the capital market as an attractive hub for investment.