CSCS launches T+2 settlement in Nigeria, improving capital market efficiency, liquidity, and investor access to funds and securities.

The Central Securities Clearing System Plc (CSCS) on Friday, 28 November 2025, officially implemented the T+2 settlement cycle in Nigeria’s capital market, signalling a major milestone in the country’s post-trade infrastructure modernisation.

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The transition from the long-standing T+3 cycle positions Nigeria’s market more competitively on the global stage, aligning with international best practices.

Under the new T+2 framework, trades executed from today will settle two business days after the trade date, enhancing operational efficiency, reducing counterparty risk, and improving liquidity for investors.

Dr Emomotimi Agama, Director-General of the Securities and Exchange Commission, had previously announced the plan to adopt T+2 at the Trade Associations Roundtable on “Ensuring Stakeholder Readiness for T+2 Settlement” held in Abuja.

Haruna Jalo-Waziri, Managing Director and Chief Executive Officer of CSCS, expressed confidence in the market’s preparedness.

“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,” he said.

“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.”

The CSCS collaborated closely with the 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 ahead of Friday’s launch.

Market participants can now expect quicker access to funds and securities, while the transition is expected to strengthen overall market resilience.

CSCS has also made implementation procedures and guidelines publicly available to aid operational clarity and support seamless adoption.

As Nigeria’s premier capital market infrastructure, CSCS serves as the Central Securities Depository and boasts a diversified shareholder base, including the Nigerian Exchange Group, leading banks, private equity firms, investment banks, and other corporate and individual stakeholders.

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The successful adoption of the T+2 settlement cycle underscores the market’s commitment to innovation, operational excellence, and alignment with global standards.