Nigeria's SEC DG: T+2 Settlement Cycle to Reduce Risks

The Director-General of Nigeria's Securities and Exchange Commission (SEC) has announced that the country's transition to a T+2 settlement cycle will significantly reduce risks in the financial sector. This move aims to streamline the settlement process for securities transactions, enhancing market efficiency and reducing exposure to risks.

The T+2 settlement cycle refers to the time it takes for a trade to be settled, with transactions now being completed within two days of the trade date. This development is expected to boost investor confidence and improve overall market operations in Nigeria.