Central Securities Clearing System Confirms Readiness For T+2 Settlement Cycle

The Central Securities Clearing System (CSCS) Plc has confirmed its readiness to modulation to a T+2 colony rhythm connected November 28, 2025. This determination is expected to heighten Nigeria’s superior marketplace efficiency, trim colony risks, and align with planetary standards.

Capital marketplace stakeholders person expressed beardown assurance successful the market’s preparedness for this captious shift.

Speaking astatine a stakeholder webinar themed ‘Trade Associations: Ensuring Stakeholders’ Readiness for T+2 Settlement System,’ CSCS managing director/CEO Haruna Jalo-Waziri reflected connected the organisation’s 26-year travel since its inception.

He noted that CSCS was established to code colony risks and that adopting a T+2 rhythm aligns Nigeria with planetary standards by reducing delays, minimising risk, and improving liquidity.

Jalo-Waziri thanked the Securities and Exchange Commission (SEC) for its enactment and openness to innovation and the NGX Group Plc and assorted commercialized associations for their progressive collaboration passim the implementation process.

CSCS Chairman Temi Popoola highlighted the important concern made successful exertion and infrastructure to guarantee operational and method readiness for the T+2 transition.

He said the organisation has conducted rigorous accent investigating nether high-volume and adverse conditions, demonstrating CSCS’s capableness to enactment the caller strategy with beardown redundancy and fallback mechanisms.

Popoola emphasised that the inaugural represents a important measurement toward enhancing Nigeria’s competitiveness successful the planetary fiscal landscape, improving operational efficiency, and strengthening capitalist trust. He stressed the corporate committedness of some regulators and marketplace participants to deepen and modernise marketplace infrastructure.

He besides pointed retired that a palmy migration to T+2 requires practice crossed the full marketplace worth chain, including banks, custodians, registrars, money managers, and back-office operators to guarantee systems are aligned, liquidity plans are successful place, and counterparty processes are updated.

Speaking during the aforesaid webinar, the SEC’s director-general, Dr Emomotimi Agama, reiterated that the November 28 ‘Go-Live’ day remains unchanged, adding that the displacement to T+2 is successful enactment with the Commission’s 2015 to 2025 Capital Market Master Plan.

Providing a presumption update, divisional caput of CSCS Depository, Onome Komolafe, confirmed that the task has entered the implementation phase. She reported that 19 end-to-end trial scenarios person been successfully completed with flawless results.

From the manufacture side, Babatunde Majiyagbe, president of the Association of Asset Custodians of Nigeria (AACN), affirmed that custodians are afloat prepared for the November launch.

He said we person conducted thorough investigating and encountered nary issues. We are arrogant of the advancement made and look guardant to a palmy transition.

Similarly, Sam Onukwue, president of the Association of Securities Dealing Houses of Nigeria (ASHON), described T+2 arsenic a captious measurement successful modernising the superior market, providing firms with the accidental to upgrade their systems. He expressed assurance successful a creaseless rollout, citing effectual stakeholder coordination.

Chairman of the Council of the Nigerian Institute of Capital Market Registrars (ICMR), Oluseyi Owoturo, besides confirmed that subordinate firms person reviewed operational processes and are updating back-office systems successful mentation for the go-live date.

Market watchers expressed optimism that the T+2 inaugural would align Nigeria’s superior marketplace with planetary standards, specified arsenic those successful the U.S., EU, and large Asian markets, which person already adopted T+2.