SEC unveils fresh reforms to strengthen capital market, targets T+0 settlement

The Securities and Exchange Commission (SEC) of Nigeria has announced comprehensive reforms to strengthen the capital market, enhance investor confidence, and accelerate digital transformation. SEC Director-General, Dr. Emomotimi Agama, revealed these initiatives during the Capital Market Committee (CMC) meeting, confirming a transition to T+1 settlement and a potential move to T+0. Key reforms include a harmonized corporate governance reporting template for public companies to reduce compliance burdens and streamline disclosures. The SEC is also focused on financial inclusion through educational initiatives, integrating capital market studies into the national secondary school curriculum and partnering with universities to support SME growth.

Furthermore, the SEC is reinforcing Nigeria’s position in non-interest finance, sharing regulatory frameworks with the Bank of Ghana and planning a Municipal Bond and Sukuk Summit. Efforts are underway to deepen the commodities and derivatives ecosystem through collaboration with organizations like the Standards Organisation of Nigeria and the Ministry of Solid Minerals, aiming to unlock funding for mining companies and improve risk mitigation. The SEC is also working with the Central Bank of Nigeria (CBN) to secure liquidity for warehouse receipts and strengthen oversight of commodity exchanges.

Finally, the SEC is advancing new rules under the Investments and Securities Act (ISA) 2025 to support commodity market participants and deploying a real-time surveillance system for the derivatives market. Technology-driven reforms, including the Digital Transformation Portal, are being implemented to automate application processes and improve efficiency for capital market operators.

(Source：The Guardian)