The Central Bank of Nigeria will assume control of fixed income settlement and trading platforms, ensuring transparency and stronger oversight.
The Central Bank of Nigeria (CBN) has announced a phased overhaul of the fixed income market to deepen transparency and efficiency. Beginning November 3, 2025, the CBN will take over settlement processes, followed by full control of the trading platform on December 1.
According to Okey Umeano, Acting Director of the Financial Markets Department, the reform will streamline operations, strengthen market integrity, and provide end-to-end visibility of transactions. User Acceptance Testing is set for mid-October, with a pilot phase running alongside the current system before full migration.
The CBN emphasized that the transition will be gradual and supported by key stakeholders like the Financial Markets Dealers Association. The Bank assured participants that reforms will enhance resilience, align with monetary policy, and foster a more transparent financial ecosystem.
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