Nigeria’s capital market is set for a major shake-up as the Securities and Exchange Commission (SEC) announced a faster settlement regime aimed at transforming the speed of transactions and boosting investor confidence across the market.
In a statement issued on May 14, 2026, the Commission confirmed that the Nigerian capital market will officially migrate from the current T+2 settlement cycle to a T+1 settlement cycle for equities and commodities transactions cleared by the Central Securities Clearing System (CSCS), effective Monday, June 1, 2026.
Under the new framework, all eligible trades executed in the market will now settle one business day after the transaction date, a move regulators say will align Nigeria with global market standards and strengthen the efficiency of the country’s financial ecosystem.
The SEC described the transition as part of its “ongoing market modernization initiatives” targeted at “enhancing market efficiency, strengthening risk management, reducing counterparty exposure, improving liquidity, and aligning the Nigerian capital market with international standards and global best practices.”
The Commission disclosed that Friday, May 29, 2026, will mark the final trading day under the existing T+2 settlement structure, while trades executed on both May 29 and June 1 will settle on Tuesday, June 2, 2026.
“Effective Monday, June 1, 2026, all eligible trades shall settle on a T+1 basis,” the SEC stated.
The regulator directed all capital market operators, securities exchanges, custodians, registrars, issuers, clearing houses, and other stakeholders to immediately begin preparations for the transition by upgrading their operational systems and workflows ahead of the rollout date.
According to the Commission, market participants are expected to “review and align their systems, processes, controls, and operational workflows ahead of the implementation date” to ensure a seamless migration.
The SEC further assured investors and stakeholders that it would continue extensive engagement and close monitoring throughout the implementation process to avoid disruptions and guarantee an orderly transition.
Reaffirming its commitment to market reforms, the Commission stated that the new settlement regime would strengthen market integrity, deepen investor confidence, and position Nigeria as a more resilient and globally competitive investment destination.
The statement was signed by the management of the Securities and Exchange Commission.
