The Nigerian Stock Market Has Gradually Transitioned Into A World-Class Market

On June 1st, 2026, the Nigerian Exchange (NGX) implemented a T+1 settlement cycle, meaning all trades in our Stock market are now settled within 24 hours. This milestone came shortly after trading hours were extended from 9:30 a.m.–2:30 p.m. to 9:00 a.m.–4:00 p.m. The longer trading window allows the NGX to overlap with European markets at closing and align with the opening of the New York market.

These reforms have brought Nigeria’s stock market in line with other leading global exchanges. By adopting T+1 settlement, Nigeria joins markets such as the U.S., Canada, and India. This alignment is expected to make the market more attractive to foreign portfolio investors and increase foreign participation.

This alignment is expected to make the market more attractive to foreign portfolio investors and increase foreign participation.

The FTSE Russell Index has already indicated that Nigeria will be reclassified as a Frontier Market in September 2026, reversing the downgrade it suffered in 2023.

The implications are profound: faster transaction cycles, enhanced liquidity, expanded participation, and increased capital inflows in ways not previously seen.

Modernization And The 10-Year Master Plan

This structural modernization is the result of deliberate planning that began with a 10-Year Capital Market Master Plan, inaugurated in 2015.

As one of her final acts as Director-General of the Securities and Exchange Commission (SEC), Arunma Oteh initiated and inaugurated a committee to design the plan.
She appointed Mr. Adedotun Sulaiman as chairman. Sulaiman, a former Chairman of Accenture Nigeria and a man of deep intellect, had previously chaired the SEC-appointed Capital Market Committee in 2008, which was tasked with shielding Nigeria from the contagion of the U.S. financial crisis….