
FTSE Russell has included six Nigerian companies in its FTSE Frontier 50 Index, according to Leadership. Three Nigerian lenders—First HoldCo, Zenith Bank and Guaranty Trust Holding Company (GTCO)—joined the index ahead of a market reclassification, alongside Dangote Cement, MTN Nigeria Communications and Aradel Holdings. The index tracks the performance of major companies in frontier markets, and the inclusion of the banks underscores the growing prominence of Nigeria's financial sector among investors.
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FirstHoldCo Plc, a Nigerian financial services holding company, has been included in the FTSE Frontier 50 Index effective 21 September 2026, according to Nairametrics. The inclusion places FirstHoldCo alongside five other Nigerian companies among the most liquid and investable firms across frontier markets. The report describes the move as strengthening the company's global investor access and market visibility, and characterizes the index as more significant than the FTSE Russell Index.
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