Nigeria Leads Africa with Fastest Stock Markets Transition to T+2 Settlement Cycle
Nigeria's Central Securities Depository and Central Securities Clearing System Plc have shifted to a T+2 settlement cycle, making Nigeria the first market in sub-Saharan Africa to achieve this milestone. The move aims to enhance market efficiency and transparency, with plans to transition to T+1 by 2026.
Key figures driving this transformation include Haruna Jalo Waziri and Temi Popoola. The Securities and Exchange Commission (SEC) has shown support for the transition, emphasizing the importance of tighter pre-trade verification and fund arrangements.
The investment in this transition has already reached N1.3 billion. Nigeria's commitment to building a competitive and transparent market is evident in this strategic shift.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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