Nigeria Transitions Capital Market to T+1 Settlement Cycle

The Securities and Exchange Commission led Nigeria's official transition to a T+1 settlement cycle on June 1, 2026. This shift reduces the time required to settle securities transactions from two business days to one, aligning the domestic market with international standards used in the United States, Canada, Mexico, and India.

Launched at a ceremony in Lagos, the move aims to improve market liquidity, reduce counterparty risks, and attract international capital. The transition follows a series of historical updates from T+5 in 1997, T+3 in 2000, and T+2 in November 2025. To support the shorter window, the Central Securities Clearing System invested in infrastructure modernization, including API integrations and cybersecurity.

The Nigerian Exchange Group intends to use these increased efficiencies to pursue a market capitalization target of N300 trillion. Regulatory authorities have already signaled that T+1 is a stepping stone toward a future T+0, or same-day, settlement objective in the near term.