Today: Bonds & T-Bills are traded & settled mostly through platforms like FMDQ and CSCS. From November: The CBN itself will handle both settlement (how payments & securities are exchanged) and later, even trading.

Oct 2025 → Testing (UAT) Nov 3, 2025 → All settlements move to CBN Dec 1, 2025 → CBN’s trading platform goes live Step by step, the CBN is taking over.

Why is this happening? More transparency (less hidden trading) Stronger regulation & oversight Better control of interest rates Less settlement risk

What this means for YOU (investors): Dividends, bond coupons & settlements will still get paid — just via CBN. Long-term: it could mean a safer & more transparent market.

@themoneyafrica If I would be able to place and cancel my orders on bond as I see fit then this is a welcomed development, the idea of doing it via email is crazy.

@themoneyafrica What does this mean for banks?