Capital market. Photo: ARISE TV
The Nigerian capital market on Monday achieved a historic milestone with the successful transition to a T+1 settlement cycle, becoming the first market in Africa to implement the shortened settlement framework designed to enhance efficiency, reduce risk, and improve global competitiveness.
Speaking at the T+1 Settlement Cycle Transition Ceremony in Lagos, the Director-General of the Securities and Exchange Commission, Emomotimi Agama, described the development as a defining moment in the market’s evolution.
“The era of T+1 has begun. In just six months, Nigeria has successfully progressed from T+2 to T+1 settlement, joining a growing group of markets embracing faster and more efficient settlement cycles. This achievement signals that Nigeria is prepared to undertake the structural reforms required to compete for global capital,” Agama said.
He added that the reform aligned Nigeria’s capital market with global best practices, where shorter settlement cycles are increasingly being adopted to improve post-trade efficiency, reduce counterparty risk, and strengthen investor confidence. He reaffirmed the commission’s commitment to the continued modernisation of market systems and processes.
