Nigeria's stock market just cut settlement time from three days down to two, which means trades close faster and money moves quicker for everyone buying or selling shares. The Central Securities Clearing System boss said cutting that extra day out of the process makes the market more competitive globally while reducing risks for investors who want their cash or securities without waiting around forever. Trading volume has already doubled to nearly 10 trillion naira this year, with foreign investors making up over 20 percent of activity.
The switch brings equity trades in line with how bonds and commodities already settle, and regulators worked with exchanges and custodians to test everything before flipping the system over. If someone buys stock early in the week, their trade wraps up by midweek instead of dragging into the following business day, and sellers get paid out on the same shortened timeline.
The switch brings equity trades in line with how bonds and commodities already settle, and regulators worked with exchanges and custodians to test everything before flipping the system over. If someone buys stock early in the week, their trade wraps up by midweek instead of dragging into the following business day, and sellers get paid out on the same shortened timeline.
