The Securities and Exchange Commission is scheduled to officially transition to a T+2 settlement cycle for equities transactions starting on Friday, November 28, 2025, barring any unforeseen circumstances.
This strategic move is intended to align the Nigerian capital market with global best practices and significantly enhance overall market efficiency.
The Commission disclosed the new timeline in a statement, noting that the shift from the current T+3 (trade date plus three days) settlement cycle is now entering the final implementation stage. This follows months of rigorous preparation, encompassing extensive stakeholder testing and technical adjustments.
According to the SEC, 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 further highlighted the preparedness of the central counterparty, stating that “As the central counterparty, CSCS Plc has dedicated considerable effort and resources to ensure seamless operational and technical readiness throughout the transition”.
The SEC also expressed high confidence in the market’s readiness for the change, disclosing that “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”.
Under the new T+2 system, all equities trades executed on Friday, November 28, 2025, will settle on Tuesday, December 2, 2025. Transactions carried out before this date will continue to adhere to the existing T+3 schedule. This means trades executed on Thursday, November 27, will also settle on December 2, which will coincide with the first batch of the new T+2 settlements.
The SEC reaffirmed its dedication to cultivating a modern, efficient, and transparent capital market. It added that it will continue to engage stakeholders actively to drive further market improvements and strengthen Nigeria’s position as a highly attractive global investment destination.
