Nigeria’s Securities and Exchange Commission (SEC) sets a 5:00 pm deadline for completing T+1 settlement of eligible equities and commodities trades. Under the rule, settlement must occur on the first business day after the trade date, by 5:00 pm. The SEC communicates the change through a circular to capital market operators.
The move is presented by outlets as aimed at improving market efficiency and lowering settlement risk. Both sources describe the same timing requirement and link it to implementation of a T+1 settlement cycle. They do not cite any major differences in the coverage beyond emphasis on risk reduction and operational clarity for market participants.
Overall, the reporting focuses on the SEC’s specified timetable—5:00 pm on T+1—rather than broader policy changes. The circular directs operators to align their processes to meet the new settlement deadline for the affected instruments within the T+1 framework.
