FTSE Russell, an international index provider, has announced the restoration of Nigeria to its Frontier Market classification, ending a three-year period during which the Nigerian market was designated 'Unclassified'. The reclassification is scheduled to take effect from the opening of trading on September 21, 2026. This move reverses the downgrade imposed on Nigeria in 2023 due to persistent concerns over foreign exchange liquidity. Capital market operators have welcomed the reclassification, and the City Boy Movement described it as measurable evidence of economic progress.
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