The Securities and Exchange Commission (SEC) has announced that the Nigerian capital market will officially migrate to a T+2 settlement cycle for equities transactions effective Friday, November 28, 2025 — a major step aimed at aligning the market with global standards, improving liquidity, and reducing systemic risk.
In a statement signed by Efe Ebelo, Head of External Relations, SEC Nigeria, the Commission confirmed that the transition from the current T+3 settlement cycle has reached full implementation status following months of coordinated preparation, system upgrades, and extensive stakeholder testing.
According to the SEC, the move to T+2 will “significantly enhance the Nigerian Capital Market by allowing investors quicker access to funds, thereby enhancing overall market liquidity and reducing counterparty risk exposure, fostering a more stable and resilient market environment.”
The Commission noted that the Central Securities Clearing System (CSCS) Plc — the market’s central counterparty — has invested substantial resources to ensure both operational and technical readiness. It added that broad testing conducted with market participants was completed seamlessly, with no reported issues, reinforcing confidence in the market’s preparedness for the shift.
Under the new settlement regime, all trades executed on Friday, November 28, 2025, will be settled on Tuesday, December 2, 2025.
Trades executed before that date will be processed under the existing T+3 system, meaning that transactions carried out on Thursday, November 27, will also settle on December 2 — coinciding with the first batch of T+2 settlements.
Reaffirming its commitment to strengthening market infrastructure, the SEC said it will continue to collaborate with stakeholders to drive additional reforms that will deepen transparency, enhance market competitiveness, and reinforce Nigeria’s position as a leading investment destination in Africa.
