The Central Bank of Nigeria (CBN) has announced a strategic operational overhaul of the nation’s Fixed Income Market, with plans to assume full control over both the settlement process and the trading platform, beginning in November 2025.
The move is part of a wider set of financial market reforms aimed at significantly deepening transparency and efficiency in Nigeria’s financial ecosystem, according to a formal communication signed by Okey Umeano, the Acting Director of the Financial Markets Department at the CBN.
Key Goals and Milestones
The CBN’s objective for this first phase of the reform is to “strengthen market integrity, streamline operations, and establish a unified regulatory framework” that gives the apex bank end-to-end visibility and supervisory oversight of all fixed income transactions.
The implementation will be executed in a staged approach, in collaboration with stakeholders like the Financial Markets Dealers Association (FMDA), to ensure a smooth and non-disruptive transition.
The key implementation dates are as follows:
By taking direct responsibility for the management of the trading platform and handling all end-to-end settlement activities, the CBN aims to enhance regulatory oversight and strengthen the market’s role in the successful transmission of its monetary policy.
