FG lauds NGX Group, SEC, CBN, CSCS as FTSE reclassifies Nigeria to Frontier market status 

The Federal Ministry of Finance has welcomed the confirmation by global index provider FTSE Russell that Nigeria’s capital market will be reclassified from “Unclassified” to “Frontier Market” status, effective from the open of trading on Monday, September 21, 2026.

A statement signed by 𝐓𝐚𝐢𝐰𝐨 𝐎𝐲𝐞𝐝𝐞𝐥𝐞,
Minister of Finance and Coordinating Minister of the Economy, said it will continue to support policies that enhance the depth, transparency and global competitiveness of Nigeria’s capital market as a key pillar of the nation’s economic transformation agenda.

The Ministry commended the Securities and Exchange Commission (SEC), the Central Bank of Nigeria (CBN), the Nigerian Exchange Group (NGXGroup), the Central Securities Clearing System (CSCS), and all capital market operators and stakeholders for their sustained collaboration in achieving this outcome.

“Their coordinated efforts spanning regulatory reform, market infrastructure modernisation and investor engagement have been central to restoring Nigeria’s standing among global index providers”, Oyedele said.

The decision marks Nigeria’s return to the global Frontier Market universe, nearly three years after its exclusion in September 2023, when persistent difficulties in capital repatriation and foreign exchange execution made the market inaccessible to international investors.

The reclassification follows sustained improvements in foreign exchange liquidity, capital repatriation and market accessibility, and reflects the cumulative impact of the Federal Government’s macroeconomic and structural reform programme.

“The reclassification is an important validation of…