SEC DG Agama

The Securities and Exchange Commission has announced the transition to a T+1 settlement cycle for equities and commodities transactions in the Nigerian capital market, with effect from Monday, 1 June 2026. The apex regulatory body stated that the transition is in furtherance of its statutory mandate to promote an efficient, fair and transparent capital market ecosystem. The official circular published by the commission outlines a comprehensive implementation framework that all capital market operators and relevant institutional stakeholders are expected to adopt in preparation for the migration. The commission stated that the migration to a T+1 settlement cycle forms part of its ongoing market modernisation initiatives aimed at enhancing trading efficiency, strengthening risk management, reducing counterparty exposure, improving system liquidity and aligning the domestic market layout with international standards and global best practices. According to the regulatory notice, all eligible trades executed on the floor of the local exchange under the new framework will settle one business day after the transaction date, effectively compressing the current two-business-day timeline. “Importantly, the final trading day under the existing T+2 cycle will be Friday, 29 May 2026. Specifically, trades executed on both 29 May and 1 June 2026 will settle on the same date, Tuesday, 2 June 2026, creating a seamless convergence window that supports an efficient transition