Regulatory Alerts2026-08-12
Added
Clarification On The Implementation Of The T+1 Settlement Cycle In The Nigerian Capital Market
The Securities and Exchange Commission clarifies that the settlement time for equities and commodities settled at CSCS is 5:00 p.m. on T+1, with transactions deemed fully paid at that time to maintain Delivery versus Payment standards. Broker/dealers with inadequately funded accounts must manage defaults in line with CSCS Default Management Procedure and relevant Exchange guidelines. Foreign portfolio investors are not required to prefund their accounts, but capital market operators facilitating their transactions must establish controls to ensure timely funding and settlement completion within the prescribed timeline.
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