Nigeria and Waemu brace themselves for T+2
Former head of West Africa Monetary Institute believes change will boost cross-border payments
This month, Nigeria and the West African Economic and Monetary Union (Waemu) announced they would reduce their trading settlement cycles to T+2 by the end this year. Nigeria will make the move by November 28 and Waemu will follow suit by the end of December.
The efforts to reduce settlements from their current level of T+3 – three days after the trade date – are aimed at boosting market liquidity and improving operational efficiency across the region.
Ngozi Egbuna, a former director general of
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