SEC Begins T+2 Settlement Cycle In Capital Market November 28

The Securities and Exchange Commission (SEC) has announced that the Nigerian capital market will officially transition to a T+2 settlement cycle for equities transactions from Friday, November 28, 2025, in a move designed to align with global best practices and enhance market efficiency.

The Commission disclosed this in a statement on Thursday, noting that the transition from the current T+3 (trade date plus three days) settlement cycle is now at the implementation stage following months of preparation and stakeholder testing.

According to a statement that the commission issued on Thursday, the “migration is expected to significantly enhance the Nigerian Capital Market by allowing investors quicker access to funds, thereby enhancing overall market liquidity and reducing counterparty risk exposure, thereby fostering a more stable and resilient market environment”.

The commission added that “As the central counterparty, CSCS Plc has dedicated considerable effort and resources to ensure seamless operational and technical readiness throughout the transition”.

“Extensive testing with market participants has been successfully conducted without any reported issues, reflecting high confidence in the market’s preparedness for this landmark change,” it disclosed.

Under the new system, all trades executed on Friday, November 28, 2025, will settle on Tuesday, December 2, 2025. Transactions carried out before that date will continue to follow the existing T+3 schedule. This means that trades executed on Thursday, November 27, will also settle on December 2, coinciding with the first batch of T+2 settlements.

The SEC reaffirmed its commitment to building a modern, efficient, and transparent capital market, adding that it will continue to engage stakeholders to drive further improvements and strengthen Nigeria’s position as an attractive investment destination.