The Director-General, Securities & Exchange Commission (SEC), Emomotimi Agama has stated that Nigeria’s exit from the FATF gery list and the launching of the T+2 settlement cycle makes Nigeria a great investment destination.
He stated this at a press briefing of on official launch of the T+2 settlement in Lagos during the weekend. Nigeria officially transitioned from a T+3 to a T+2 settlement cycle, marking a major advancement in modernising its capital market.
Represented by the Executive Commissioner, Operations, SEC, Bola Ajomale, he commended Managing Director of Central Securities Clearing System (CSCS), Haruna Jalo-Waziri for his lofty vision and tenacity in bringing the vision to fruition.
He stated that, “This is a good development and it will challenge us to develop sharper surveillance and build capacity to detect errors faster. “As Nigeria exits the grey list, this move is a step in reaffirming to the world that Nigeria is a great investment destination. Again, people must be clear that this change is only in time, we are not changing the order of things.”
“With this development, the dispute resolution department in SEC will be functional with additional manpower and the monitoring department will be further empowered,” he said.
Speaking earlier, the Chairman of the CSCS Plc, Temi Popoola, said the shift represented a strategic step toward global best practice.
Popoola described the transition as a historic milestone that would strengthen liquidity, reduce risk and enhance investor confidence. He said the move signalled Nigeria’s commitment to building a market anchored on efficiency, transparency and competitiveness.
