The Central Securities Clearing System (CSCS) reported a substantial surge in securities transactions between May and August 2025, reaching an impressive N2.112 trillion. This figure represents a remarkable 138.44% increase compared to the N885.93 billion recorded during the same period in 2024. This significant growth underscores the increasing vibrancy and dynamism of the Nigerian capital market. The surge can be attributed to various factors, including increased investor confidence, improved market regulations, and the ongoing efforts by CSCS to enhance market infrastructure and accessibility.
The substantial increase in transaction value is further corroborated by a corresponding rise in the volume and number of deals executed during the four-month period. A total of 95.66 billion units of securities were traded across 2,063,939 deals, compared to 67.68 billion units and 770,217 deals in the same period of 2024. This represents a 41.34% increase in transaction volume and a significant 167.97% surge in the number of deals. This substantial growth in both volume and deal numbers signifies a broader participation in the market and further solidifies the positive trend observed in transaction values.
A detailed month-by-month analysis reveals a consistent upward trajectory in transaction values throughout the period. Starting at N362.34 billion in May 2025, the value rose to N393.65 billion in June, peaked at N910.31 billion in July, and closed at N446.08 billion in August. This fluctuating but generally upward trend showcases the dynamic nature of the market and suggests a healthy level of activity. The volume of securities traded also followed a similar pattern, reaching 19.28 billion units in May, 14.85 billion units in June, 35.34 billion units in July, and 26.19 billion units in August. The number of deals executed further supports this upward trend, reaching 378,967 in May, 370,174 in June, 649,996 in July, and 664,802 in August.
Comparing these figures to the corresponding period in 2024 highlights the remarkable growth achieved in 2025. In 2024, settlement values stood at N189.38 billion in May, N233.24 billion in June, N259.19 billion in July, and N204.11 billion in August. Securities volume included 9.28 billion units in May, 27.57 billion units in June, 14.52 billion units in July, and 16.31 billion units in August. The number of deals was significantly lower, standing at 180,555 in May, 184,072 in June, 203,769 in July, and 201,821 in August. The stark contrast between these 2024 figures and the 2025 data emphasizes the impressive growth achieved across all key metrics.
The positive developments in the Nigerian capital market are further reinforced by CSCS’s proactive efforts to enhance market efficiency and align with global best practices. The company’s planned migration to a T+2 settlement cycle, scheduled for November 28, 2025, is a significant step in this direction. This transition, supported by capital market regulators and stakeholders, will reduce the settlement period from the current T+3 (three business days) to T+2 (two business days). This move is expected to boost market efficiency by reducing counterparty risk, accelerating the release of funds, and enhancing liquidity, aligning Nigeria’s capital market with advanced markets like Japan, the UK, and Switzerland.
To support these advancements, CSCS has been actively upgrading its core digital infrastructure. This includes enhancements to key platforms such as the Brokers Portal, RegConnect, Custodian Portal, and Regulators Portal. These upgrades, combined with a comprehensive review of operational processes, aim to bolster efficiency, reliability, and security within the market. Furthermore, CSCS has launched a USSD code service to broaden investor access. This innovative service allows investors to access crucial information, including their Clearing House Number, Direct Cash Settlement status, stock positions, account balances, and account status, even without internet connectivity. This initiative demonstrates CSCS’s commitment to financial inclusion and expanding market participation. The Managing Director/Chief Executive Officer of CSCS, Haruna Jalo-Waziri, emphasized the organization’s dedication to broadening investor access through this service. By leveraging technology and streamlining processes, CSCS is actively fostering growth and promoting greater participation in the Nigerian capital market.
