The Securities and Exchange Commission (SEC) has announced the successful transition of the Nigerian capital market from a T+2 to a T+1 settlement cycle, marking a major milestone in efforts to enhance market efficiency and align the country’s capital market with global best practices.
Speaking at the Closing Gong ceremony, the Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, said the transition would support Nigeria’s ambition of building a one-trillion-dollar economy by enhancing the efficiency of capital market transactions.
Also speaking, the Chief Executive Officer of the Central Securities Clearing System (CSCS), Shehu Yahaya Shantali, described the achievement as more than a reduction in settlement timelines, noting that it reflects stakeholders’ commitment to building a more efficient, resilient, competitive, and globally aligned capital market.
With the new settlement cycle, investors can now complete the transfer of cash and securities within one business day after buying or selling shares on the exchange.
The development is expected to provide faster access to funds, improve liquidity, and enhance capital circulation across the market.
Source: X | NTANewsNow
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