SEC Rolls Out Bold Reforms to Transform Nigeria’s Capital Market — Eyes T+0 Settlement! ⚡
The Securities and Exchange Commission (SEC) has unveiled a comprehensive set of reforms designed to boost market efficiency, enhance investor confidence, and drive digital transformation across Nigeria’s capital market.
The announcements were made by the SEC Director-General, Dr. Emomotimi Agama, during the second Capital Market Committee (CMC) meeting of 2025.
⏳ Faster Settlement Cycle: T+1 Confirmed, T+0 on the Horizon
Nigeria has now officially transitioned to a T+1 settlement cycle, reducing the time it takes to settle trades.
Even more exciting, the SEC is now exploring a T+0 settlement model, which would enable same-day settlement—a major leap for market speed and global competitiveness. ⚡
New Unified Corporate Governance Reporting Template
To simplify compliance for public companies, the SEC is introducing a harmonized corporate governance reporting template.
This new template will combine requirements from:
• SEC regulations
• Nigerian Code of Corporate Governance (2018)
• Business Facilitation Act (2022)
This means less paperwork, clearer reporting, and more transparency. ✨
Strengthening Financial Literacy for Students
The SEC is pushing financial education deeper into the nation’s academic system:
• Secondary schools: Capital market studies will be built into the national curriculum in partnership with NERDC.
• Tertiary institutions: Collaboration with Nnamdi Azikiwe University on a conference centered on capital market opportunities for SMEs.
A smart move to groom the next generation of investors and market leaders!
Growing the Non-Interest Finance Sector
Nigeria continues to lead in non-interest capital markets:
• SEC engaged the Bank of Ghana on Islamic finance regulation.
• Nigeria’s sovereign Sukuk has grown to ₦1.4 trillion.
• Islamic mutual funds are expanding rapidly.
• A Municipal Bond & Sukuk Summit is scheduled for Q1 2026.
This strengthens Nigeria’s position as a regional hub for ethical finance.
Deepening the Commodities & Derivatives Market
Dr. Agama highlighted ongoing developments to strengthen commodity and derivatives trading:
• SEC is updating commodity standards with the Standards Organisation of Nigeria (SON).
• Working with insurance brokers to improve risk mitigation.
• Partnering with the Ministry of Solid Minerals to unlock funding for mining projects.
• Engaging the Central Bank of Nigeria (CBN) to give warehouse receipts liquidity status.
• Tightening oversight of commodity exchanges through inspections and financial reviews.
Additionally, new rules under the Investments and Securities Act (ISA) 2025 are underway to support commodity exchanges, warehouse operators, collateral managers, and warehouse receipt issuers. ️
Stronger Oversight for Derivatives & Risk Management
To enhance market integrity:
• SEC is working with stakeholders to deploy a real-time surveillance system for derivatives trading.
• Updated rules on central counterparties, NG Clearing, online forex, and derivatives trading have been submitted for approval.
• A systemic risk management rule is also being drafted to enforce stronger risk governance frameworks across regulated entities.
This will help prevent market shocks and ensure stable operations. ️
Digital Transformation: A More Efficient SEC
The SEC is advancing its technology-driven reforms through its Digital Transformation Portal, which now allows capital market operators to:
• Submit applications online
• Upload required documents
• Track approval progress in real-time
This automation cuts delays and improves transparency.
The Securities and Exchange Commission (SEC) has unveiled a comprehensive set of reforms designed to boost market efficiency, enhance investor confidence, and drive digital transformation across Nigeria’s capital market.
The announcements were made by the SEC Director-General, Dr. Emomotimi Agama, during the second Capital Market Committee (CMC) meeting of 2025.
⏳ Faster Settlement Cycle: T+1 Confirmed, T+0 on the Horizon
Nigeria has now officially transitioned to a T+1 settlement cycle, reducing the time it takes to settle trades.
Even more exciting, the SEC is now exploring a T+0 settlement model, which would enable same-day settlement—a major leap for market speed and global competitiveness. ⚡
New Unified Corporate Governance Reporting Template
To simplify compliance for public companies, the SEC is introducing a harmonized corporate governance reporting template.
This new template will combine requirements from:
• SEC regulations
• Nigerian Code of Corporate Governance (2018)
• Business Facilitation Act (2022)
This means less paperwork, clearer reporting, and more transparency. ✨
Strengthening Financial Literacy for Students
The SEC is pushing financial education deeper into the nation’s academic system:
• Secondary schools: Capital market studies will be built into the national curriculum in partnership with NERDC.
• Tertiary institutions: Collaboration with Nnamdi Azikiwe University on a conference centered on capital market opportunities for SMEs.
A smart move to groom the next generation of investors and market leaders!
Growing the Non-Interest Finance Sector
Nigeria continues to lead in non-interest capital markets:
• SEC engaged the Bank of Ghana on Islamic finance regulation.
• Nigeria’s sovereign Sukuk has grown to ₦1.4 trillion.
• Islamic mutual funds are expanding rapidly.
• A Municipal Bond & Sukuk Summit is scheduled for Q1 2026.
This strengthens Nigeria’s position as a regional hub for ethical finance.
Deepening the Commodities & Derivatives Market
Dr. Agama highlighted ongoing developments to strengthen commodity and derivatives trading:
• SEC is updating commodity standards with the Standards Organisation of Nigeria (SON).
• Working with insurance brokers to improve risk mitigation.
• Partnering with the Ministry of Solid Minerals to unlock funding for mining projects.
• Engaging the Central Bank of Nigeria (CBN) to give warehouse receipts liquidity status.
• Tightening oversight of commodity exchanges through inspections and financial reviews.
Additionally, new rules under the Investments and Securities Act (ISA) 2025 are underway to support commodity exchanges, warehouse operators, collateral managers, and warehouse receipt issuers. ️
Stronger Oversight for Derivatives & Risk Management
To enhance market integrity:
• SEC is working with stakeholders to deploy a real-time surveillance system for derivatives trading.
• Updated rules on central counterparties, NG Clearing, online forex, and derivatives trading have been submitted for approval.
• A systemic risk management rule is also being drafted to enforce stronger risk governance frameworks across regulated entities.
This will help prevent market shocks and ensure stable operations. ️
Digital Transformation: A More Efficient SEC
The SEC is advancing its technology-driven reforms through its Digital Transformation Portal, which now allows capital market operators to:
• Submit applications online
• Upload required documents
• Track approval progress in real-time
This automation cuts delays and improves transparency.