MSCI Says it Needs More Time to Assess Nigeria’s Forex Reforms

MSCI Inc. said it needs more time to assess the impact of foreign exchange reforms in Nigeria, suggesting the global index provider is not yet ready to restore the West African’s country’s frontier-market status.

Operational modifications in Nigeria’s foreign exchange market have improved liquidity, but “more time is needed to assess the impact of these changes,” MSCI said in its annual market accessibility review.