August 31, 2026
The confirmation of Nigeria’s return to FTSE Russell’s Frontier Market universe creates an opportunity to deepen the country’s capital market, broaden international participation and mobilise more long-term capital for Nigerian businesses, Temi Popoola, Group Managing Director/Chief Executive Officer of NGX Group, has said.
FTSE Russell has confirmed that Nigeria’s reclassification from Unclassified to Frontier Market status will proceed from the market open on Monday, 21 September 2026.
The confirmation follows an additional assessment of Nigeria’s transition from a T+2 to T+1 settlement cycle, after market participants raised concerns that the change could effectively result in a de facto prefunding requirement for international institutional investors.
Following engagement with Nigerian market authorities and feedback from the FTSE Equity Country Classification Advisory Committee, FTSE Russell confirmed that no material settlement, operational or funding issues had been observed since the implementation of T+1.
