Global index provider FTSE Russell has confirmed that Nigeria’s reclassification from Unclassified to Frontier Market status will take effect from the open of trading on September 21, 2026.
The organization confirmed this in a market notice published on Thursday, August 27, 2026, marking Nigeria’s return to the global Frontier Market universe and another milestone for the Nigerian capital market.
Nairametrics earlier broke the news that the global index provider was set to proceed with the reclassification of Nigeria from “Unclassified” to “Frontier Market”, two months after placing the transition on hold.
The reclassification is expected to increase the visibility of Nigerian equities among international investors and provide opportunities to deepen participation by global institutional investors.
What they are saying
FTSE Russell in the notice said the decision to proceed with the reclassification followed its engagements with Nigerian market regulators.
- “Following engagement with the Nigerian market authorities and feedback from the FTSE Equity Country Classification Advisory Committee, which indicated that no material settlement, operational, or funding issues have been observed since the implementation of the T+1 settlement cycle, the FTSE Russell Index Governance Board is pleased to confirm that Nigeria’s reclassification from Unclassified to Frontier market status will proceed, effective from the market open on Monday 21 September 2026,” it stated.
Commenting on the development, Group Managing Director and Chief Executive Officer of NGX Group, Temi Popoola, said the reclassification should be viewed as an opportunity to deepen the Nigerian capital market rather than simply as an index milestone.
- “This is an important moment for Nigeria’s capital market. But the real significance…
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