Morgan Stanley Capital International, (a provider of benchmark indexes and multi-portfolio analysis tools) has reclassified MSCI Nigeria indexes from Frontier Markets to Standalone Market Status.
This means MSCI will delete each Nigerian security from the MSCI Frontier Markets Indexes at a price that is effectively zero.
This comes after FTSE Russell reclassified Nigeria’s equity country classification to unclassified from frontier markets on September 8, 2023.
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The implication for Nigeria is that investors bringing money face own risk due to persistent FX liquidity issues and difficulty in repatriating investments.
This is in spite of the CBN’s assurances that foreign investors will be able to repatriate their funds after investing in Nigeria.
The MSCI Nigeria Index is designed to measure the performance of the large and mid cap segments of the Nigerian market.
Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.
