SEC, CSCS, Market Operators Complete Testing Ahead of T+1 Settlement Roll-out June 1

The Securities and Exchange Commission, Central Securities Clearing System Plc and market operators have completed system upgrades and operational testing ahead of the rollout of the T+1 settlement cycle on Monday, June 1, 2026.

The coordinated readiness exercise clears the way for trades in Nigeria’s capital market to settle one business day after execution, a move aimed at improving market efficiency, reducing settlement risk and deepening liquidity.

Under the new framework, transactions executed in the Nigerian capital market will now settle one business day after the trade date, enabling quicker movement of securities and funds across the market ecosystem.

The move is expected to improve market efficiency, reduce settlement risks, deepen liquidity and align Nigeria’s capital market operations with global best practices.

Market participants across the ecosystem have also intensified system upgrades, operational testing and internal readiness activities ahead of the transition date.

Speaking on the development, the managing director/chief executive officer of CSCS,  Shehu Shantali, described the migration to T+1 as a major step in the evolution of Nigeria’s market infrastructure.

According to him, “the transition to T+1 represents another important milestone in the evolution of Nigeria’s capital market infrastructure. It reflects the market’s readiness to embrace reforms that enhance efficiency, strengthen investor confidence, improve liquidity, and align Nigeria more closely with leading global markets.”

He noted that the successful implementation of the new settlement cycle was driven by extensive collaboration among the SEC, exchanges, trade associations, market operators and members of the T+1 Implementation Plan Committee.

The SEC also underscored the strategic importance of the transition as part of broader efforts aimed at strengthening market competitiveness and ensuring orderly, fair and efficient markets.

According to the Commission, a shorter settlement cycle signals stronger market discipline, improved infrastructure quality and enhanced regulatory credibility.

To commemorate the official rollout, CSCS, in collaboration with Nigerian Exchange Group, will host a Special Closing Gong ceremony on June 1, 2026.

The event is expected to bring together regulators, market operators, trade associations and other stakeholders across the capital market ecosystem to formally mark the commencement of the T+1 settlement cycle in Nigeria.