Nigeria to Settle Stock Trades in Two Days to Boost Liquidity

Nigeria is transitioning settling trades on its stock market to two business days, after the date of the transaction, in a bid to boost market liquidity and attract more investors.

The new trading cycle, which is a day shorter than the current practice, will come into effect from Nov. 28, the Central Securities Clearing System Plc said in an emailed statement. This “enhances market liquidity, and significantly reduces counter-party risk,” the CSCS said.