The Federal Ministry of Finance has welcomed confirmation by global index provider FTSE Russell that Nigeria’s capital market will be reclassified from Unclassified to Frontier Market status, effective from the open of trading on Monday, September 21, 2026.
The reclassification marks Nigeria’s return to the global Frontier Market universe nearly three years after its exclusion in September 2023, when persistent difficulties in capital repatriation and foreign exchange execution had made the market inaccessible to international investors.
The Ministry said the decision follows sustained improvements in foreign exchange liquidity, capital repatriation and market accessibility, reflecting the cumulative impact of the Federal Government’s macroeconomic and structural reform programme, describing it as an important validation of Nigeria’s reform trajectory and a foundation for the next phase of capital market development.
It commended the Securities and Exchange Commission, the Central Bank of Nigeria, the Nigerian Exchange Group, the Central Securities Clearing System and other capital market stakeholders for their coordinated efforts spanning regulatory reform, market infrastructure modernisation and investor engagement.
Looking ahead, government reaffirmed its commitment to deepening liquidity, broadening participation and strengthening investor protections, with the medium term goal of positioning Nigeria for progression to Emerging Market status.
By Asiwaju Adekunle Saheed
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