FTSE Russell has confirmed that Nigeria will return to Frontier Market status from the opening of trading on September 21, 2026, after earlier concerns over market access and settlement issues.
The index provider moved Nigeria from unclassified status after a review that started in October 2025. The review followed improvements in foreign exchange liquidity, capital repatriation and access for international investors.
Premium Times reported that FTSE Russell placed Nigeria on its watch list in October 2025 and announced the return to Frontier Market status in April 2026, with September 21 set as the effective date.
A later assessment followed Nigeria’s move from a T+2 to a T+1 settlement cycle on June 1, after market participants raised concerns that the new framework could create a practical prefunding requirement for international institutions.
According to the reports, FTSE Russell concluded that no material settlement, operational or funding issues had been seen since the T+1 change. Punch also reported reactions from market analysts who linked the decision to foreign exchange reforms, settlement changes and the clearing of backlogs.
Sources: Premium Times, Punch
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