SEC Reports Smooth Adoption of T+1 Settlement Cycle
The Securities and Exchange Commission (SEC) announced that the adoption of the T+1 settlement cycle in Nigeria's capital market is proceeding smoothly. Emomotimi Agama, the director general of SEC, conveyed this information during an interview in Abuja, represented by Hafsat Rufai, the director of registration, Exchanges and Market Infrastructure.
Investors have expressed satisfaction with the new settlement cycle, which allows for securities to settle by 5:00 p.m. the day after a transaction, as opposed to the previous 8:00 a.m. settlement time under the T+2 and T+3 cycles. Agama noted that there have been no defaults due to fund unavailability at the new deadline.
The market transitioned from T+3 to T+2 on November 28, 2025, and then to T+1 on June 1, 2026. The reduction in the settlement cycle aims to improve market efficiency, liquidity, and reduce settlement risks, allowing investors to receive their securities or cash sooner.
Plus234Feed summary based on reporting from BusinessDay. Read the original report below.
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