Nigeria’s Securities and Exchange Commission has issued a circular notifying capital market stakeholders that equities transactions will transition to a T+2 (trade date plus two days) settlement cycle, effective 28 November 2025, following a review of the current settlement cycle and stakeholder engagements. The Commission expects the change to expedite access to funds and improve market liquidity, reduce exposure to counterparty risk, and align Nigeria’s equities market with international best practice. Transactions executed on 28 November 2025 will be settled under the T+2 cycle, and market participants including brokers, dealers, broker/dealers and custodians are required to update systems and processes to support implementation; investors are advised to consult their brokers and investment advisers on potential impacts.

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