Yemisi Izuora
The Nigerian capital market is set to transition to a T + 1 Settlement Cycle effective Monday, 1st June 2026, marking another significant milestone in the continued modernization of Nigeria’s post-trade infrastructure and market operations.
The transition, approved by the Securities and Exchange Commission (SEC) and being coordinated by the Central Securities Clearing System Plc (CSCS) alongside key capital market stakeholders, reflects the market’s collective commitment to strengthening efficiency, reducing settlement risk, enhancing liquidity, and aligning with global best practices.
Under the T + 1 settlement cycle framework, trades executed in the Nigerian capital market will settle one business day after the trade date, enabling faster movement of securities and funds across the market ecosystem.
Ahead of the go-live date, extensive stakeholder engagements, readiness assessments, and awareness initiatives have been conducted across the market to support a seamless transition. As part of the awareness and readiness assessment leading to the transition, CSCS hosted industry engagement webinars with Exchanges and Trade Associations to reinforce stakeholder alignment, operational preparedness, and market-wide coordination ahead of go-live.
Market participants across the capital market ecosystem have also continued to undertake system upgrades, operational testing, internal readiness activities ahead of the transition.
Commenting on the transition, Mr. Shehu Yahaya Shantali, the Managing Director/Chief Executive Officer of CSCS, stated:
“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 market.”
He further noted:”The successful implementation of T + 1 is a product of extensive collaboration across the capital market ecosystem. We appreciate the commitment demonstrated by our regulator, Securities and Exchange Commission (SEC), Exchanges, Trade Associations, market operators and the T + 1 Implementation Plan Committee.”
The Securities and Exchange Commission (SEC) has also continued to emphasize the strategic importance of the transition as a part of broader efforts aimed at strengthening market competitiveness, ensure orderly, fair and efficient markets. The Commission highlighted that a shorter cycle signals discipline, infrastructure quality, and regulatory credibility.
To commemorate the official transition, CSCS in collaboration with the Nigerian Exchange Group (NGX) will host a Special Closing Gong ceremony on Monday, 1st June 2026 at the NGX House, Lagos.
The event will bring together regulars, market operators, Trade Associations and key stakeholders across the capital market ecosystem to formally mark the commencement of the T + 1 settlement cycle in Nigeria.
CSCS remains committed to driving innovation, operational resilience, and stakeholder collaboration as the Nigerian capital market progresses toward a more efficient, transparent, and globally competitive future.