FTSE Russell Reclassification Creates Opportunity to Deepen Nigeria’s Capital Market
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
FTSE Russell's announcement that Nigeria is returning to its Frontier Market classification presents a chance for the country's capital market to grow deeper and more robust, according to Temi Popoola, Group Managing Director/Chief Executive Officer of NGX Group. The recategorization, set to occur on September 21, 2026, follows a review of Nigeria's shift from a T+2 to a T+1 settlement cycle, which had sparked concerns among international investors.
After thorough assessment and consultation with Nigerian authorities and market stakeholders, FTSE Russell confirmed that there were no significant operational or funding issues since the implementation of the T+1 system. Popoola emphasized that the primary goal now is to leverage Nigeria's enhanced global visibility to foster broader market participation, heightened liquidity, and increased capital formation for Nigerian businesses.
This development is part of a broader strategy to establish Nigeria as a more competitive and relevant capital market, capable of driving sustainable economic growth. The Federal Government, represented by the Minister of Finance, Taiwo Oyedele, hailed the reclassification as a testament to Nigeria's reform progress and a foundation for future market expansion towards Emerging Market status.
Written by urgent.news from This Day's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
