Nigeria’s capital market has taken a major leap forward with the official launch of the T+2 settlement cycle by the Central Securities Clearing System Plc (CSCS), effective November 28, 2025.
The transition from the previous T+3 timeline marks a significant stride in modernizing the country’s post-trade infrastructure and aligns Nigeria more closely with global market standards.
Under the new framework, all transactions will now settle two business days after the trade date.
According to CSCS, the T+2 cycle is expected to boost operational efficiency, deepen market liquidity, and reduce counter-party risks—ultimately improving investor confidence and ensuring quicker access to funds and securities.
The migration followed months of collaboration with the Securities and Exchange Commission (SEC), stock exchanges, custodians, market operators, and key industry groups.
CSCS conducted rigorous readiness assessments, industry-wide testing, and stakeholder engagements to ensure smooth adoption across all segments of the market.
Managing Director and Chief Executive Officer of CSCS, Mr. Haruna Jalo-Waziri, expressed confidence in the market’s preparedness, noting that the shift to T+2 unlocks new efficiencies that will shape the future of Nigeria’s capital market.
He reaffirmed CSCS’s commitment to continuous support, adding that detailed implementation guidelines have been made available on the organisation’s website to aid market participants.
Jalo-Waziri described the transition as another bold step in CSCS’s long-standing mission to drive innovation and operational excellence across the nation’s financial ecosystem.
Reporting by Sherifat Oyediran