The Securities and Trade Fee (SEC) has introduced that Nigeria’s capital market will formally transition to a T+2 settlement cycle for equities transactions from Friday, November 28, 2025.
The reform, geared toward aligning Nigeria with international finest practices, is predicted to boost market effectivity, enhance liquidity, and strengthen investor confidence forward of the normal year-end rally.
In an announcement issued on Thursday, the SEC mentioned the migration from the present T+3 (commerce date plus three days) cycle had reached full implementation following months of preparation and rigorous stakeholder testing.
“The migration is predicted to considerably improve the Nigerian capital market by permitting traders faster entry to funds, enhancing total liquidity, and decreasing counterparty threat publicity,” the Fee famous.
The Central Securities Clearing System (CSCS) Plc, which serves because the market’s central counterparty, was praised for making certain operational and technical readiness. “In depth testing with market individuals has been efficiently carried out with none reported points,” the SEC mentioned, including that the initiative represents a “landmark change” in Nigeria’s market infrastructure.
Underneath the brand new settlement framework, all trades executed on Friday, November 28, 2025, will decide on Tuesday, December 2, 2025, whereas earlier transactions will proceed below the present T+3 system. The SEC reaffirmed its dedication to constructing a contemporary, clear, and globally aggressive market that continues to draw home and worldwide traders.
Analysts have welcomed the SEC’s announcement, describing the T+2 migration as one in every of a number of constructive catalysts that would strengthen the market and spark renewed investor curiosity within the final quarter of the 12 months.
Mr. Blakey Ijezie, a chartered accountant and convener of the quarterly Blakey’s Nationwide {Economic} Convention in addition to Blakey’s Nationwide Tax Convention, mentioned the shift represents a serious leap in market modernization. “The migration to T+2 is excellent for the market. It means quicker settlement — whenever you promote, you possibly can entry your cash inside two days. That alone improves liquidity and investor confidence,” he mentioned.
Ijezie added that a number of different coverage shifts, together with the potential extension of buying and selling hours and a overview of the Capital Positive aspects Tax (CGT) on securities, might complement the T+2 transition. “Extending buying and selling hours will deliver extra liquidity to the market. The present four-and-a-half-hour window from 10 a.m. to 2:30 p.m. is simply too quick. An extended session aligns us extra with international markets and creates room for higher participation,” he defined.
He additionally highlighted that the Finance Minister’s current feedback on reviewing the CGT implementation had already improved investor sentiment. “As soon as the federal government opinions or suspends the tax, confidence will rebound additional, as we noticed the market begin to get well instantly after the minister’s assertion,” he added.
Supporting this view, Mr. Tajudeen Olayinka, CEO of Wyoming Capital and Companions, mentioned the mixture of those reforms would seemingly drive a stronger market rally as 2025 winds down. “By the tip of November, the T+2 cycle will probably be operational, the CGT challenge could have been resolved, and buying and selling hours prolonged. All these will elicit constructive investor sentiment and set off a year-end rally,” he predicted.
In response to Olayinka, extending the buying and selling window will even assist combine the Nigerian Trade (NGX) with international markets. “If buying and selling closes by 4 p.m., it would overlap with the opening of worldwide markets like New York and London, permitting international portfolio traders to take part extra actively,” he mentioned.
He famous that institutional and international traders stay the important thing drivers of market exercise. “These traders are shifting the market. Higher alignment with worldwide buying and selling schedules enhances liquidity and attracts contemporary inflows,” he added.
Olayinka concluded that the mixture of regulatory reforms, improved coverage readability, and technical upgrades positions the marketplace for a robust end. “By December, the stress out there will ease; actions will peak, and we’ll seemingly shut the 12 months on a really constructive observe,” he mentioned.
With the T+2 transition, analysts agree that Nigeria is taking a big step towards a extra environment friendly, aggressive, and investor-friendly capital market — one poised for renewed progress as 2025 attracts to an in depth.
