Abuja, Nigeria — The Securities and Exchange Commission (SEC) has announced the rollout of a T+1 settlement cycle for equities and commodities transactions in the Nigerian capital market, with implementation set to take effect from June 1, 2026.
Under the new framework, trades will now be settled one business day after execution, marking a significant shift from the current T+2 cycle and aligning Nigeria’s financial market operations with global standards.
The Commission said the transition is part of its broader market modernisation strategy aimed at improving efficiency, strengthening risk management and enhancing investor confidence.
According to the SEC, the reform is expected to reduce counterparty exposure, accelerate capital turnover, and deepen liquidity across the market.
“Enhancing market efficiency, strengthening risk management, reducing counterparty exposure, improving liquidity, and aligning the Nigerian capital market with international standards remain key objectives of this transition,” the Commission stated.
As part of the transition plan, the SEC disclosed that Friday, May 29, 2026, will be the last trading day under the T+2 settlement regime. Trades executed on that day, as well as those on Monday, June 1, will both settle on Tuesday, June 2, 2026.
From June 1 onward, all eligible transactions will be processed on a T+1 basis.
The Commission has directed capital market operators, including securities exchanges, clearing and settlement firms, custodians, registrars and issuers, to ensure full operational readiness by upgrading systems and aligning workflows ahead of the transition.
Market analysts say the move positions Nigeria among progressive markets adopting shorter settlement cycles to improve efficiency and competitiveness.
The SEC reaffirmed its commitment to building a resilient and transparent capital market capable of attracting both domestic and foreign investment.
