FTSE Russell reclassifies Nigeria as frontier market

FTSE Russell has confirmed that Nigeria will be reclassified from an unclassified market to frontier market status, effective from the market open on Monday, September 21, 2026. The global index provider announced the decision in a market notice published on Thursday, August 27, marking a significant milestone for the country's capital market after a three-year absence from the benchmark index. The reclassification follows an extensive review process that began in October 2025, when Nigeria was placed on a watch list for potential upgrade due to improvements in foreign exchange liquidity and market accessibility.