FTSE Russell adds 10 Nigerian firms to index
FTSE Russell has added 10 Nigerian firms, including Dangote Cement and MTN Nigeria, to its Frontier Index Series, marking Nigeria’s re-entry into global Fr Read More: https://punchng.com/ftse-russell-adds-10-nigerian-firms-to-index/
FTSE Russell has added ten Nigerian firms to its FTSE Frontier Index Series, marking the country's re-entry into global Frontier Market status on September 21, 2026. The newly eligible companies include Aradel Holdings, Dangote Cement, First HoldCo, Guaranty Trust Holding Company, MTN Nigeria Communications, Nestlé Nigeria, Nigerian Breweries, Presco, Stanbic IBTC Holdings, and Zenith Bank.
This move comes after Nigeria was downgraded to 'Unclassified Market' in September 2023 due to issues with foreign exchange liquidity and capital repatriation mechanisms. The reclassification is expected to boost global visibility for Nigerian equities, drive foreign portfolio investment, and improve liquidity on the local bourse.
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