NIGERIA · MARKETS
Key Facts
—What happened: FTSE Russell published a market notice on Thursday 27 August confirming that Nigeria moves from Unclassified to Frontier Market. The change takes effect at the market open on Monday 21 September 2026.
—Why it lapsed: Nigeria was dropped from the FTSE frontier indices with effect from 18 September 2023, its stocks deleted at zero value, after foreign investors struggled to convert naira and repatriate money. Index changes involving Nigerian shares had already been suspended since September 2022.
—What changed: Nigeria moved to a one-day settlement cycle on 1 June 2026. FTSE’s advisory committee found no material settlement, operational or funding problems in the period since.
