CSCS records N2.11trn transactions in four months, set to roll out T+2 settlement cycle

The Central Securities Clearing System (CSCS) Plc has reported securities transactions worth N2.11 trillion between May and August 2025, marking a 138.4 per cent jump from the N885.93 billion recorded in the same period last year.

According to data released by the clearing house, the four-month activity covered 95.66 billion units of securities across 2.06 million deals, compared to 67.68 billion units executed in 770,217 deals during the same period in 2024.

Monthly breakdown of the transactions showed N362.34 billion in May, N393.65 billion in June, N910.31 billion in July, and N446.08 billion in August. Deal counts rose steadily from 378,967 in May to 664,802 in August. In contrast, corresponding figures for 2024 were N189.38 billion in May, N233.24 billion in June, N259.19 billion in July, and N204.11 billion in August.

The securities volumes settled this year stood at 9.28 billion units in May, 27.57 billion in June, 14.52 billion in July, and 16.31 billion in August. These figures far outpaced the previous year’s volumes, which averaged below 20 billion units monthly.

Meanwhile, CSCS is set to implement a T+2 settlement cycle on November 28, 2025, with strong backing from capital market regulators and stakeholders. The new cycle, which shortens settlement to two business days after a trade, is expected to boost efficiency, reduce counterparty risk, and align Nigeria’s capital market with global standards practised in the United Kingdom, Japan, and Switzerland.

Beyond settlement reforms, the clearing house has rolled out new digital solutions to strengthen market operations. These include RegConnect Version 2, an upgraded web-based platform for Registrars, and the Custodian Portal, launched in July, to improve operational efficiency and digital access for custodians.