Nigeria capital market begins historic shorter settlement cycle
Nigeria becomes the first African market to adopt a T+1 settlement cycle, enhancing efficiency and global competitiveness.Summary
The Nigerian capital market has achieved a historic milestone by transitioning to a T+1 settlement cycle, becoming the first market in Africa to implement this shortened framework. SEC Director-General Emomotimi Agama described the move as a defining moment, noting that Nigeria progressed from T+2 to T+1 in just six months. This reform aligns the market with global best practices, aiming to improve post-trade efficiency, reduce counterparty risk, and strengthen investor confidence. NGX Group Chairman Alhaji Umaru Kwairanga and Group Managing Director Temi Popoola highlighted the transition as a critical step in the market's transformation, reinforcing confidence in institutions and supporting economic growth. CSCS Plc CEO Shehu Shantali emphasized the operational readiness of the post-trade ecosystem, stating that the new cycle will enhance transaction speed and liquidity efficiency.
(Source：21st Century Chronicle)