..as trading volume signals upward swing in capital market transactions
By Dickson Pat
Central Securities Clearing System ,CSCS, has reported a surge in securities settlements, with transactions valued at ₦2.112trn executed between May and August 2025, marking a 138.44% increase compared to ₦885.93bn recorded during the same period in 2024.
According to the CSCS, the four-month performance involved 95.66 billion units of securities settled across 2,063,939 deals, far outpacing the 67.68 billion units and 770,217 deals posted in the corresponding period of 2024.
This represents a 41.34% jump in transaction volume and a 167.97% leap in the number of executed deals year-on-year.
A breakdown of the data reveals sustained growth across all four months under review. Settlement values rose from ₦362.34bn in May to ₦393.65bn in June, spiked sharply to ₦910.31bn in July, and closed at ₦446.08bn in August 2025.
Trading volumes also reflected the upswing, with 19.28 billion units traded in May, 14.85 billion in June, 35.34 billion in July, and 26.19 billion in August. The number of deals surged from 378,967 in May and 370,174 in June to 649,996 in July and 664,802 in August.
This marks a contrast to 2024 figures when CSCS recorded monthly settlement values of ₦189.38bn (May), ₦233.24bn (June), ₦259.19bn (July), and ₦204.11bn (August), alongside lower trade volumes and deal counts.
In addition to the robust settlement growth, CSCS disclosed that it is preparing to transition Nigeria’s capital market to a T+2 settlement cycle by November 28, 2025.
The new system will shorten the settlement period for securities transactions from three days ,T+3, to two days ,T+2. CSCS said the move has garnered strong support from capital market regulators and key industry stakeholders, as it is expected to enhance market efficiency, reduce counterparty risk, and align Nigeria’s settlement framework with global best practices seen in markets like Japan, the United Kingdom, and Switzerland.
As part of efforts to support the T+2 migration and improve overall service delivery, CSCS has embarked on a major upgrade of its digital infrastructure and operational processes. This includes revamping core digital interfaces such as the Brokers Portal, RegConnect, Custodian Portal, and Regulators Portal.
A notable mark in this drive is the launch of RegConnect Version 2, an advanced upgrade of its flagship web-based platform for Registrars. First introduced in 2019, RegConnect streamlined data validation and processing for Registrars.
The new version builds on that foundation, offering omnichannel transaction submission ,file uploads, on-screen interface, APIs, enhanced API integrations, real-time monitoring dashboards, and faster data exchange capabilities.
In July, CSCS also launched the Custodian Portal, a secure and user-centric platform designed to enhance digital access, operational efficiency, and real-time data visibility for custodians.
The portal enables portfolio and trade management, document tracking, share transfers, client symbol search, and record management through a flexible subscription model supported by GTPay and Paystack payment channels.
Commenting on the development, CSCS Managing Director and Chief Executive Officer, Haruna Jalo-Waziri, described the new USSD service as a major step in “leveraging mobile technology to democratise access to account and portfolio information”.
He reaffirmed CSCS’s commitment to strengthening post-trade services, advancing market efficiency, and supporting Nigeria’s capital market competitiveness on the global stage, especially as it gears up for the T+2 migration.
