Rising Times for NGX
The decision reverses the country’s relegation to “Unclassified” status in 2023, when foreign-exchange liquidity problems, difficulties in repatriating investment proceeds, and concerns about market accessibility made Nigeria increasingly unattractive to international institutional investors.
The Nigerian Exchange (NGX) has received a significant vote of confidence, with FTSE Russell confirming Nigeria’s return to Frontier Market status from September 21, 2026.
Following engagements involving the NGX Group, Securities and Exchange Commission (SEC), global custodians, and other market participants, FTSE Russell found no material settlement, operational, or funding problems.
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