Nigeria is pushing to compress stock-trade settlement to a 24-hour cycle, a move that would align Africa’s largest economy with markets operating on a T+1 basis and potentially unlock a surge in trading activity.
From November 28, the Central Securities Clearing System (CSCS Plc) shifted to a T+2 settlement cycle. For Nigeria’s flagship equities markets, the Nigerian Exchange (NGX) and NASD OTC, this means share transfers will now be settled after two working days.
This achievement makes Nigeria the first market in sub-Saharan Africa to r
