SEC to deliver sustained zero trade fail rate in T+1 settlement cycle – D-G
The SEC aims to maintain a near-zero trade fail rate in the T+1 settlement cycle through enhanced collaboration and regulatory reforms.Summary
The Securities and Exchange Commission (SEC) under Director-General Dr. Emomotimi Agama is focused on achieving a sustained near-zero trade fail rate in the T+1 settlement cycle by strengthening discipline across custodians, brokers, and the Central Securities Clearing System (CSCS). The commission is working with the Central Bank of Nigeria (CBN) to ensure seamless currency conversion and funding for foreign investors, modernize the Certificate of Capital Importation (CCI) process, and implement reforms like the Investments and Securities Act (ISA) 2025. These measures aim to enhance market credibility, combat Ponzi schemes, and support equities, fixed income, and alternative investments in the second half of the year.
(Source：Nigerian Observer)