The Central Bank of Nigeria (CBN) has announced plans to take full control of the Nigerian Fixed Income Market starting in November 2025. This move aims to improve transparency and efficiency in the financial system. According to Okey Umeano, the Acting Director of the Financial Markets Department at the CBN, the first phase will involve the bank managing both the settlement process and the trading platform for fixed income transactions.
These changes are part of broader reforms designed to enhance regulatory oversight and support economic growth. The CBN believes that by overseeing the trading platform and settlement activities, it will strengthen market integrity and ensure better visibility and supervision of fixed income transactions. The transition will be implemented in stages, with collaboration from key stakeholders, including the Financial Markets Dealers Association (FMDA).
To ensure a smooth transition, the CBN has outlined key milestones leading up to the full migration. This includes user acceptance testing scheduled for mid-October 2025, followed by a pilot phase to ensure operational stability. The full roll-out of the new settlement process will occur on November 3, 2025, with the trading platform set to launch on December 1, 2025.
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