Nigeria’s Frontier Market Status at Risk Due to Dollar Shortage
- Local unit weakens to new low on the parallel market in Lagos
- MSCI worried about inability of firms to repatriate dollars
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Nigeria is poised to lose its frontier market status because of persistent foreign-exchange shortages in Africa’s largest economy.
MSCI Inc. is considering downgrading the MSCI Nigeria indexes to standalone markets status from frontier market, the New York-based company said in a statement.