Nigeria Re-enters Global Index Radar as Naira Gains and CBN Cuts Rates

FTSE Russell has included 31 Nigerian companies in its Frontier Index Series, marking the country's preparation to return to Frontier Market status after a three-year absence. The reclassification, effective from the open of trading on September 21, 2026, comes alongside a stronger Naira and a surprise rate cut by the Central Bank of Nigeria (CBN). The top 10 large-cap stocks now indexed include Dangote Cement, First HoldCo, GTCO, MTN Nigeria, and Zenith Bank.

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