CSCS: T+2 Settlement Cycle Go-live in Nigerian Capital Market 

Kayode Tokede

The Central Securities Clearing System Plc (CSCS), has announced officially the going live  of the T+2 settlement cycle in the Nigerian capital market, effective November 28,  2025.

This transition from the long-standing T+3 cycle represents a significant milestone in the ongoing modernisation of Nigeria’s post-trade infrastructure and reflects the market’s collective commitment to global best practices.

With the implementation of T+2, all trades executed from today will now settle two business days after the trade date. This achievement strengthens operational efficiency, enhances market liquidity, and significantly reduces counter-party risk, ultimately improving investor experience and ensuring quicker access to funds and securities.

Managing Director and Chief Executive Officer of CSCS, Haruna Jalo-Waziri,   in a statement expressed confidence in the readiness of the market.

He said, “The successful commencement of the T+2 settlement cycle is the product of extensive collaboration, rigorous testing, and the unwavering commitment of all market stakeholders. We are proud to lead this change at a time when efficiency and resilience are critical pillars for market competitiveness.

“As we embrace the T+2 framework, we are unlocking efficiencies that will shape the future of Nigeria’s capital market for years to come. This milestone sends a clear message that the Nigerian market is evolving, forward-thinking, and determined to match and surpass global benchmarks in post-trade operations.”

“CSCS has worked closely with the Securities and Exchange Commission (SEC), exchanges, market operators, custodians, and key trade associations to ensure smooth implementation.

Comprehensive readiness assessments, industry-wide testing, and participant engagements were conducted to guarantee that systems, processes, and operational frameworks were

aligned with the new cycle ahead of today’s launch,” he said.