Several companies has seen their shares (securities) listed and delisted from the Nigerian Exchange over the 62 years of its existence.
Several companies such as Aba Textile Mills Plc, Ashaka Cement Plc, Seven-Up Bottling Company Plc etc. has at one time been amongst the companies whose shares were listed on the exchange. All three and 118 others has since been delisted from the exchange for several reasons.
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Nigerian Exchange (NGX), is a wholly owned subsidiary of the Nigerian Exchange Group (NGX: NGXGROUP), is a leading listing and trading venue in Africa with its history dating back to 1960.
The term “delisting” of securities (the shares of a company in the case of equities) means removal of listed securities from The Exchange. Consequently, the securities of an affected Issuer (the company) will no longer be traded on The Exchange and the Issuer’s name will be removed from the Daily Official List of The Exchange.
The delisting of a company can be done voluntarily or involuntarily (regulatory).
Voluntary delisting is the withdrawal of an Issuer’s securities listed on The Exchange with the express approval of the holders of its securities, after complying with relevant requirements in that regard.
Regulatory delisting refers to the removal by The Exchange of an Issuer’s securities for non-compliance with the Listings Rules of The Exchange or for breach of the terms and conditions of the General Undertaking executed by the Issuer when its securities were listed by The Exchange.
For frequently asked questions on delisting of securities from the Nigerian Exchange, click here.
Below is a list of all 121 companies whose shares has been delisted from the Nigerian Exchange.
| Company | Date Delisted | Reason for Delisting |
|---|---|---|
| 11 Plc | 7-May-2021 | Voluntary |
| A.G. LEVENTIS (NIGERIA) PLC | 7-Jan-2020 | Voluntary |
| ABA TEXTILE MILLS PLC | 2009 | Regulatory: NSE |
| ABOSELDEHYDE LABORATORIES PLC | 2009 | Regulatory: NSE |
| ABPLAST PLC | 2012 | Regulatory: NSE |
| ACEN INSURANCE PLC | 2008 | Regulatory: NAICOM |
| ADSWITCH PLC | 18-May-16 | Regulatory: NSE |
| AFPRINT PLC | 2010 | Regulatory: NSE |
| AFRIBANK PLC | 2011 | Nationalised: CBN |
| AFRICAN PAINTS (NIGERIA) PLC | 6-Apr-18 | Regulatory: NSE |
| AFRIK PHARMACEUTICALS PLC | 6-Apr-18 | Regulatory: NSE |
| AFROIL PLC | 24-Nov-14 | Regulatory |
| ALBARKA AIRLINE PLC | 2011 | Regulatory: NSE |
| ALUMACO PLC | 18-May-16 | Regulatory: NSE |
| AMICABLE INSURANCE PLC | 2008 | Regulatory: NAICOM |
| ANINO INTERNATIONAL PLC | 12-Oct-20 | Regulatory: NSE |
| ASABA TEXTILE MILLS PLC | 2009 | Regulatory: NSE |
| ASHAKA CEMENT PLC | 4-Jul-17 | Merged with Lafarge Africa Plc |
| ATLAS NIGERIA PLC | 2008 | Regulatory: NSE |
| AVIATION DEVELOPMENT COMPANY PLC | 2008 | Regulatory: NSE |
| AVON CROWN CAPS AND CONTAINERS PLC | 18-Sep-17 | Voluntary |
| BAICO INSURANCE PLC | 2008 | Regulatory: NAICOM |
| BANK PHB PLC | 2011 | Nationalised: CBN |
| BCN PLC | 2009 | Regulatory: NSE |
| BECO PETROLEUM PRODUCTS PLC | 2-May-17 | Regulatory: NSE |
| BEVERAGES (WA) NIGERIA PLC | 2008 | Regulatory: NSE |
| BHN Plc | 2007 | Regulatory |
| BIG TREAT PLC | 24-Nov-14 | Regulatory |
| CEMENT COMPANY OF NORTHERN NIGERIA PLC | 9-Jan-20 | Merged with BUA Cement Plc(formerly OBU Cement Company Plc) |
| CERAMICS MANUFACTURING COMPANY PLC | 2008 | Regulatory: NSE |
| CFAO NIGERIA PLC | 2007 | Voluntary |
| CHRISTLIEB PLC | 2009 | Regulatory: NSE |
| CONFIDENCE INSURANCE PLC | 2012 | Licence Withdrawn |
| CONTINENTAL REINSURANCE PLC | 17-Jan-20 | Voluntary |
| COSTAIN (W.A) PLC | 1-Dec-16 | Regulatory: NSE |
| CRUSADER INSURANCE NIGERIA PLC | 13-May-13 | Merged with Custodian & Allied Insurance Plc |
| DAILY TIMES OF NIGERIA PLC | 2011 | Regulatory: NSE |
| DANGOTE FLOUR MILLS PLC | 18-Nov-19 | Voluntary |
| DIAMOND BANK PLC | 1-Apr-19 | Merged with Access Bank Plc |
| DUMEZ NIGERIA PLC | 2002 | Regulatory: NSE |
| ECOBANK NIGERIA PLC | 2011 | Absorbed by ETI: Now Ecobank Nigeria Ltd |
| ENPEE PLC | 2008 | Voluntary |
| EPIC DYNAMIC PLC | 2009 | Regulatory: NSE |
| EVANS MEDICAL PLC | 14-Jun-21 | Regulatory: NGX |
| FAMAD PLC | 2009 | Regulatory: NSE |
| FERDINAND OIL MILLS PLC | 2009 | Regulatory: NSE |
| FINBANK PLC | 2011 | Merged with FCMB Plc |
| FIRST ALUMINIUM NIGERIA PLC | 31-Jul-19 | Voluntary |
| FIRST CAPITAL INVESTMENT & TRUST PLC | 2011 | Regulatory: NSE |
| FLEXIBLE PACKAGING PLC | 2011 | Regulatory: NSE |
| FOOTWEAR MANUFACTURING PLC | 2009 | Regulatory: NSE |
| FOREMOST DAIRIES PLC | 2011 | Regulatory: NSE |
| FORTIS MICROFINANCE BANK PLC | 21-Aug-19 | Regulatory: NSE |
| G. CAPPA PLC | 18-May-16 | Regulatory: NSE |
| GREAT NIGERIA INSURANCE PLC | 25-Jan-19 | Voluntary |
| GROMMAC INDUSTRIES PLC | 2008 | Regulatory: NSE |
| HALLMARK PAPER PRODUCT PLC | 2012 | Regulatory: NSE |
| IHS NIGERIA PLC | 6-May-15 | Voluntary |
| IMPRESIT BAKOLORI PLC | 2002 | Voluntary |
| INCAR PLC | 2010 | Voluntary |
| INTERCONTINENTAL BANK PLC | 2011 | Merged with Access Bank Plc. |
| INTRA MOTORS NIG. PLC | 2008 | Regulatory: NSE |
| INVESTMENT & ALLIED INSURANCE PLC | 18-May-16 | Regulatory: NSE |
| IPWA PLC | 18-May-16 | Regulatory: NSE |
| JOS INTERNATIONAL BREWERIES PLC | 18-May-16 | ?Regulatory: NSE |
| KRABO NIGERIA PLC | 2011 | Regulatory: NSE |
| LENNARDS (NIGERIA) PLC | 1-Dec-16 | Regulatory: NSE |
| LIZ-OLOFIN & COMPANY PLC | 2009 | Regulatory: NSE |
| MAUREEN LAB. PLC | 2008 | Regulatory: NSE |
| MNET/SUPERSPORT | 6-Apr-15 | Regulatory |
| MTECH COMMUNICATIONS PLC | 2-May-17 | Regulatory: NSE |
| MTI PLC | 2-May-17 | Regulatory: NSE |
| NAMPAK PLC | 2011 | Voluntary |
| NAVITUS ENERGY PLC | 1-Dec-16 | Regulatory: NSE |
| NEWPAK PLC | 2011 | Regulatory: NSE |
| NEWREST ASL NIGERIA PLC | 13-May-19 | Voluntary |
| NIGERCEM PLC | 2011 | Regulatory: NSE |
| NIGERIA WIRE & CABLE PLC | 13-Jul-15 | Regulatory: NSE |
| NIGERIA-GERMAN CHEMICALS PLC | 14-Jun-21 | Regulatory: NGX |
| NIGERIAN BAG MANUFACTURING COMPANY PLC | 11-Apr-13 | Merged with Flour Mills Nigeria Plc |
| NIGERIAN BOTTLING COMPANY PLC | 2011 | Voluntary |
| NIGERIAN LAMPS PLC | 2008 | Regulatory: NSE |
| NIGERIAN ROPES PLC | 1-Dec-16 | Regulatory: NSE |
| NIGERIAN SEWING MACHINE MANUFACTURING PLC | 13-Jul-15 | Regulatory: NSE |
| NIGERIAN TEXTILE MILLS PLC | 2008 | Voluntary |
| NIGERIAN WIRE INDUSTRIES PLC | 3-Jun-13 | Regulatory: NSE |
| NIGERIAN YEAST & ALCOHOL MANUFACTURING PLC | 2008 | Regulatory: NSE |
| OASIS INSURANCE PLC | 31-Dec-14 | Acquired by FBN Life Insurance |
| OCEANIC BANK PLC | 2011 | Merged with ETI |
| OKITIPUPA OIL PALM PLC | 2011 | Regulatory: NSE |
| OLUWA GLASS COMPANY PLC | 2009 | Regulatory: NSE |
| ONWUKA HI-TEK. PLC | 2008 | Regulatory: NSE |
| P.S MANDRIDES & COMPANY PLC | 1-Dec-16 | Regulatory: NSE |
| PAINTS AND COATINGS MANUFACTURERS NIGERIA PLC | 17-Aug-18 | Voluntary |
| PINNACLE POINT GROUP | 24-Nov-14 | Regulatory |
| POLY PRODUCTS PLC | 6-Jul-05 | Voluntary |
| PORTLAND PAINTS & PRODUCTS NIGERIA PLC | 17-Sep-21 | Merged with Chemical & Allied Products Plc |
| PREMIER BREWERIES PLC | 1-Dec-16 | Regulatory: NSE |
| RIETZCOT NIGERIA PLC | 2008 | Regulatory: NSE |
| ROADS NIGERIA PLC | 14-Jun-21 | Regulatory: NGX |
| ROKANNA PLC | 18-May-16 | Regulatory: NSE |
| SECURITY ASSURANCE PLC | 2008 | Regulatory: NAICOM |
| SEVEN-UP BOTTLING COMPANY PLC | 5-Mar-18 | Voluntary |
| SKYE BANK PLC | 21-Aug-19 | Regulatory: NSE |
| SPRING BANK PLC | 2011 | Nationalised: CBN |
| STARCOMMS PLC | 24-Nov-14 | Regulatory |
| STOCKVIS PLC | 13-Jul-15 | Regulatory: NSE |
| STUDIO PRESS NIGERIA PLC | 7-Jan-22 | Voluntary |
| SUN INSURANCE PLC | 2008 | Regulatory: NAICOM |
| TATE INDUSTRIES PLC | 2008 | Regulatory: NSE |
| TROPICAL PETROLEUM PLC | 2011 | Regulatory: NSE |
| UDEOFSIN GARMENT PLC | 2012 | Regulatory: NSE |
| UNIC DIVERSIFIED HOLDINGS PLC | 14-Jun-21 | Regulatory: NGX |
| UNION DIAGNOSTIC & CLINICAL SERVICES PLC | 7-Jan-22 | Voluntary |
| UNITED NIGERIA TEXTILE PLC | 2011 | Voluntary |
| UNIVERSAL TRUST BANK PLC | 2005 | Merged with Union Bank of Nigeria Plc |
| UTC PLC | 2-May-17 | Regulatory: NSE |
| VONO PRODUCTS NIGERIA PLC | 23-May-16 | Merged with Vitafoam Nigeria Plc |
| WEST AFRICAN ALUMINIUM PLC | 3-Jun-13 | Regulatory: NSE |
| WEST AFRICAN GLASS INDUSTRIES PLC | 18-May-16 | Regulatory: NSE |
| WIGGINS TEAPE NIGERIA PLC | 2011 | Regulatory: NSE |
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
