Nigeria’s Securities and Exchange Commission (SEC) has unveiled an ambitious set of reforms designed to boost market efficiency, strengthen investor confidence, and fast-track the digital transformation of the nation’s capital market.
At the second Capital Market Committee (CMC) meeting of 2025, SEC Director-General, Emomotimi Agama confirmed that Nigeria is moving toward a T+1—and eventually T+0—settlement cycle.
He described the recent shift from T+3 to T+2 settlement for equities, implemented on November 28, as a major milestone that aligns Nigeria with global best practice, enhances liquidity, reduces counterparty risk, and speeds up capital reinvestment.
The new settlement timeline now applies across the Nigerian Exchange, NASD OTC Securities Exchange, and the Lagos Commodities and Futures Exchange.
Agama highlighted several positive developments since the last CMC meeting in May, including Nigeria’s sovereign credit rating upgrade and removal from the FATF grey list—both of which have improved investor sentiment and prospects for capital inflows. Inflation has also eased to 16.05 percent year-on-year in October, its lowest level since March 2025.
