New to NGX investing? Here's how settlement actually works
CSCS accounts, T+2 settlement, and why your broker matters more on the NGX than it might on other exchanges you've used.
If you're opening your first Nigerian brokerage account, a few mechanics are worth understanding before your first trade settles.
The CSCS account
Every NGX trade settles through the Central Securities Clearing System (CSCS), which acts as the central depository for shares. Your broker opens a CSCS sub-account on your behalf when you onboard — this is what actually holds your shares, separate from any cash wallet the broker's app shows you.
Settlement timing
NGX equities settle on a T+2 basis: a trade executed today typically settles two business days later. That matters if you're planning to sell shares shortly after buying — funds and shares aren't immediately transferable until settlement completes.
Choosing a broker
Licensed NGX-registered stockbroking firms and CSCS-compliant retail investing apps both give you access to the exchange, but coverage and fee structures vary, and not every app supports every listed ticker. Pulsights' "How to buy" panel on each company page lists which routes are typically available for that stock — always confirm current coverage and fees directly with the broker before funding an account.
This is general information about how NGX settlement works, not a recommendation of any specific broker or investment.