Regulatory Alerts2017-01-05
Approved Guidelines on Securities Settlements in Nigeria
These guidelines establish standardized procedures for securities clearing and settlement across Nigerian exchanges to enhance market efficiency, investor protection, and systemic risk mitigation. The framework mandates the use of the Delivery Versus Payment (DVP) mechanism and defines the specific roles, responsibilities, and timelines for market participants, including registrars, custodians, and dealing member firms. Furthermore, the document mandates electronic payment for all dividend and interest distributions, prohibiting any additional charges to investors for these services.
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