Barring unforeseen circumstances, the Securities and Exchange Commission (SEC) will officially migrate to a T+2 settlement cycle for equities transactions from Friday, November 28, 2025. The move marks a major shift from the existing T+3 settlement framework and is aimed at deepening market efficiency and aligning Nigeria with international best practices.
In a statement issued by the Commission, the SEC confirmed that the transition had reached implementation stage following months of systems preparation and market-wide testing. According to the regulator, 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, fostering a more stable and resilient market environment.”
The Central Securities Clearing System (CSCS), which serves as the central counterparty to market transactions, has been instrumental in preparing for the transition. The SEC noted that CSCS dedicated extensive resources to ensure both operational and technical readiness. Market-wide simulations and testing were conducted without issues, signalling strong industry preparedness.
Under the new settlement structure, all trades executed on Friday, November 28, 2025, will settle on Tuesday, December 2. Meanwhile, transactions completed before that date will remain under the current T+3 system. As a result, trades done on Thursday, November 27, will also settle on December 2, coinciding with the first batch of T+2 transactions.
The Commission reaffirmed its commitment to building a modern, efficient and transparent marketplace capable of competing globally. It added that stakeholder engagement and continuous market reform remain top priorities as Nigeria works to strengthen its capital market infrastructure and strengthen investor confidence.
