{
  "id": 4554330,
  "title": "No default since adoption of T+1 settlement – SEC",
  "url": "https://urgent.news/2026/08/31/no-default-since-adoption-of-t-1-settlement-sec",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-31T02:30:17.000Z",
  "source": {
    "name": "Daily Trust",
    "slug": "daily-trust",
    "url": "https://dailytrust.com/no-default-since-adoption-of-t1-settlement-sec/"
  },
  "original_language": "en",
  "account": "The Securities and Exchange Commission (SEC) announced that the switch to a one-day settlement cycle, known as T+1, is operating smoothly in Nigeria's capital market with no default on funds recorded since its implementation. Dr. Emomotimi Agama, the SEC Director-General, stated this in an interview, according to a SEC statement. The regulator recently moved the settlement deadline from 8:00 a.m. to 5:00 p.m., which they believe provides sufficient time for market participants to meet their obligations. Agama said the feedback from both local and international investors has been positive, with the new cycle enhancing the competitiveness and efficiency of the market. The switch from the previous T+3 settlement cycle to the shorter T+1 cycle began on June 1, 2026, after a phased transition from T+3 to T+2 on November 28, 2025. The SEC plans to continue monitoring the implementation of the new system to ensure it delivers its intended benefits for Nigeria's capital market.",
  "summary": "The Securities and Exchange Commission (SEC) has said the adoption of the one-day transaction settlement cycle, known as T+1, is progressing smoothly in Nigeria’s capital market, with no default recorded so far over the availability of funds. The SEC Director-General, Dr. Emomotimi Agama, disclosed this in an interview, according to a statement from SEC on […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}