Nigeria T+1 settlement from 1 June
The Nigerian capital market is working to get ready to move to T+1 settlement (clearing and settlement on the day after trade), starting 1 June 2026. Transfer of ownership, cash, and securities one business day after a trade is executed aims to reduce settlement risk significantly and give investors faster access to their funds. The […]
President Tinubu hails Nigerian Exchange NGN 100 trillion market cap milestone
The Nigerian Exchange has continued its strong growth this year, and on 5 January passed a milestone market capitalization of NGN 100 trillion to close at NGN 101.8trn ($71.5 billion). Nigerian President Bola Ahmed Tinubu issued a statement praising the Nigerian Exchange Group (NGX), Nigeria’s businesses, the market operators and investors, saying it is a […]
Upgrading core tech driving Nigeria’s post-trade
TECH TUESDAY – Nigeria’s Central Securities Clearing System Plc (CSCS) has been upgrading its core technology system ahead of this week’s upgrade of the market to T+2 settlement. And the Securities and Exchange Commission, Nigeria (SECN) says the plan is to move to T+1 next year “in alignment with trends in developed markets, and ultimately […]
T+2 to transform Nigerian securities trading 28 November
The Nigerian capital market will be transformed this Friday, 28 November, as it moves to the settlement on the second business day after trading, T+2. The market is currently on T+3 (settlement on the third day after trade), apart from fixed income securities and commodities which already settle on T+2. The change to the settlement […]
SEC Nigeria clears Nigerian Stock Exchange demutualization
Next step in the long demutulization of Nigerian Stock Exchange will be a court ordered meeting and an extraordinary general meeting. The demutualization is set to transform another of Africa’s most dynamic exchanges. Last month (January 2020) the bourse received a letter from the Securities and Exchange Commission Nigeria with “no objection” to its planned […]
Nigeria’s SEC pushes for privatization listings, stockbroker consolidation and NSE demutualization
Nigeria’s Securities and Exchange Commission hopes to boost liquidity on the Nigerian Stock Exchange by getting previously privatized enterprises to list their shares and is progressing demutualization and higher standards for stockbrokers.