Stockbrokers Say FTSE Russell Review Not Setback, Backs Nigeria’s T+1 Reform

The Chartered Institute of Stockbrokers (CIS) has said FTSE Russell’s decision to defer Nigeria’s reclassification to Frontier Market status should not be viewed as a setback, insisting that the country’s newly adopted T+1 settlement cycle remains a landmark reform that will strengthen investor confidence and improve market efficiency.
In a statement issued on Thursday, the Institute described the June 30, 2026 decision by the global index provider as part of an ongoing review process aimed at assessing the practical implications of Nigeria’s migration from a T+2 to a T+1 securities settlement cycle for international institutional investors.
According to CIS, the postponement is a tem...