In line with its plans for Nigeria’s return to Frontier Market status on September 21, FTSE Russell has confirmed the first formal list of ten Nigerian large-cap stocks eligible for its Frontier Index Series.
The stocks are Guaranty Trust Holding Company, Zenith Bank, MTN Nigeria Communications, Dangote Cement, and Stanbic IBTC Holdings.
Others are: First HoldCo, Nestlé Nigeria, Nigerian Breweries, Presco, and Aradel Holdings. They are the ten Nigerian counters cleared into the Large Cap tier.
The reclassification takes effect at the market open on Monday, September 21, 2026, with the review file’s changes not considered final until close of business September 7.
The ten stocks from banking, telecoms, cement, and consumer goods are designated “Newly Eligible” in the index provider’s September 2026 annual review file.
Nigeria’s official return to the FTSE Russell Frontier Market universe marks a definitive turning point for the country’s financial landscape. FTSE Russell confirmed last Thursday, August 27 that Nigeria’s reclassification from Unclassified to Frontier Market status will proceed from the market open on Monday, September 21, 2026.
Following sustained macroeconomic reforms, improved foreign exchange (FX) liquidity, and the seamless adoption of a modernised T+1 settlement cycle, this reclassification is far more than a symbolic upgrade – but it is a vital gateway to renewed global capital.
As international index-tracking funds and institutional investors refocus their lenses on Nigerian equities, the…
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Read Full Article by Iheanyi Nwachukwu at businessday.ng
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