SEC, operators complete preparations for faster trade settlement
Punch
Nigeria's capital market is transitioning to a T+1 settlement cycle, reducing post-trade clearing time from two to one business day.Summary
The Nigerian capital market is implementing a T+1 settlement cycle starting June 1, 2026, replacing the previous T+2 system. This change involves technological upgrades by market operators, including Straight-Through Processing extensions and API portals, to streamline trade matching and clearing. Officials from the Securities and Exchange Commission (SEC), Central Securities Clearing System (CSCS), and the Association of Asset Custodians of Nigeria (AACN) emphasized collaboration to ensure smooth execution. The transition aims to enhance efficiency, investor confidence, and alignment with global standards. A final T+2 settlement will occur on May 29, 2026, with a commemorative ceremony marking the shift.
(Source：Punch)