The Chartered Institute of Stockbrokers has described FTSE Russell’s decision to defer Nigeria’s planned reclassification to Frontier Market status as a temporary review process rather than a reversal of the country’s capital market reforms.
The institute stressed that Nigeria’s newly adopted T+1 settlement cycle remained a landmark achievement capable of strengthening investor confidence and market efficiency.
In a statement on Thursday, the institute said the postponement announced by FTSE Russell on 30 June 2026, followed the global index provider’s decision to further assess the practical implications of Nigeria’s migration from a T+2 to a T+1 securities settlement cycle for international institutional investors.
According to the CIS, Nigeria’s transition to the T+1 settlement framework on 1 June 2026, represents one of the most significant reforms in the country’s capital market history, making Nigeria the first capital market in Africa to implement the shortened settlement cycle.
The institute noted that the reform aligned Nigeria with major global markets that had adopted faster settlement systems to improve operational efficiency, reduce settlement risk and enhance liquidity.
