Nigeria Advances Toward Same-Day (T+0) Settlement as SEC Confirms Technology Readiness

Nigeria’s capital market is preparing for same-day settlement as regulators confirm the technology is ready but urge cautious implementation.


Nigeria now has the technology required for same-day (T+0) settlement across the Nigerian Exchange, NASD, and Lagos Commodities and Futures Exchange, according to the SEC and market operators. SEC Director-General Dr. Emomotimi Agama said the shift will boost liquidity, cut counterparty risk, and speed up reinvestment, but warned that rapid changes must not endanger investors.

The Central Securities Clearing System (CSCS) already has full T+0 capability, but regulators opted for a phased transition: T+3 to T+2 in November 2025, then T+1, and finally T+0 in 2026. This protects pension funds, older investors, and institutions that need slower adjustments.

Alongside settlement reforms, the SEC announced broader measures to strengthen market confidence, expand digital adoption, and modernize oversight. These include commodity market rules, enhanced surveillance, financial literacy programs, and a digital portal for transparent regulatory processing. Agama said Nigeria’s move toward T+0 reflects innovation grounded in investor protection.

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