Full List of Unquoted Companies in Nigeria (2024)
Did you know that there is a large number of unquoted companies in Nigeria that are often overlooked? These companies, though not listed on the stock exchange, hold immense growth potential and can be a goldmine for investors and individuals looking for unique investment opportunities.
In this comprehensive guide, we will explore the full list of delisted companies in Nigeria and things to know before you can invest in them.
WHAT ARE UNQUOTED COMPANIES?
Unquoted companies, also known as privately held companies, are entities that are not listed on the stock exchange. Unlike publicly traded companies, their shares are not available for public purchase or trading. These companies are typically smaller in scale and are owned by a limited number of shareholders, including founders, family members, and private investors. They are often characterized by their flexibility and the ability to make quick decisions due to the absence of widespread public ownership.
It is possible for companies whose stock is delisted or removed from major markets to become an unquoted public company. Delisting may occur on a voluntary basis or as a result of an exchange’s listing standards not being met.
This delisted companies play a vital role in the Nigerian economy. They contribute significantly to job creation, innovation, and economic growth. These companies are often pioneers of new ideas and technologies, driving progress and development in various industries.
FULL LIST OF UNQUOTED COMPANIES IN NIGERIA (2024)
According to the NGX Group data, here are the 124 examples of delisted companies in Nigeria, the date delisted and the reason.
Company | Date Delisted | Reason for Delisting |
---|---|---|
WIGGINS TEAPE NIGERIA PLC | 2011 | Regulatory: NSE |
WEST AFRICAN GLASS INDUSTRIES PLC | 18-October-16 | Regulatory: NSE |
WEST AFRICAN ALUMINIUM PLC | 3-Jun-13 | Regulatory: NSE |
VONO PRODUCTS NIGERIA PLC | 23-October-16 | Merged with Vitafoam Nigeria Plc |
UTC PLC | 2-October-17 | Regulatory: NSE |
UNIVERSAL TRUST BANK PLC | 2005 | Merged with Union Bank of Nigeria Plc |
UNITED NIGERIA TEXTILE PLC | 2011 | Voluntary |
UNION DIAGNOSTIC & CLINICAL SERVICES PLC | 7-Jan-22 | Voluntary |
UNIC DIVERSIFIED HOLDINGS PLC | 14-Jun-21 | Regulatory: NGX |
UDEOFSIN GARMENT PLC | 2012 | Regulatory: NSE |
TROPICAL PETROLEUM PLC | 2011 | Regulatory: NSE |
TATE INDUSTRIES PLC | 2008 | Regulatory: NSE |
SUN INSURANCE PLC | 2008 | Regulatory: NAICOM |
STUDIO PRESS NIGERIA PLC | 7-Jan-22 | Voluntary |
STOCKVIS PLC | 13-Jul-15 | Regulatory: NSE |
STARCOMMS PLC | 24-Nov-14 | Regulatory |
SPRING BANK PLC | 2011 | Nationalised: CBN |
SKYE BANK PLC | 21-Aug-19 | Regulatory: NSE |
SEVEN-UP BOTTLING COMPANY PLC | 5-Mar-18 | Voluntary |
SECURITY ASSURANCE PLC | 2008 | Regulatory: NAICOM |
ROKANNA PLC | 18-October-16 | Regulatory: NSE |
ROADS NIGERIA PLC | 14-Jun-21 | Regulatory: NGX |
RIETZCOT NIGERIA PLC | 2008 | Regulatory: NSE |
PREMIER BREWERIES PLC | 1-Dec-16 | Regulatory: NSE |
PORTLAND PAINTS & PRODUCTS NIGERIA PLC | 17-Sep-21 | Merged with Chemical & Allied Products Plc |
POLY PRODUCTS PLC | 6-Jul-05 | Voluntary |
PINNACLE POINT GROUP | 24-Nov-14 | Regulatory |
PAINTS AND COATINGS MANUFACTURERS NIGERIA PLC | 17-Aug-18 | Voluntary |
P.S MANDRIDES & COMPANY PLC | 1-Dec-16 | Regulatory: NSE |
ONWUKA HI-TEK. PLC | 2008 | Regulatory: NSE |
OLUWA GLASS COMPANY PLC | 2009 | Regulatory: NSE |
OKITIPUPA OIL PALM PLC | 2011 | Regulatory: NSE |
OCEANIC BANK PLC | 2011 | Merged with ETI |
OASIS INSURANCE PLC | 31-Dec-14 | Acquired by FBN Life Insurance |
NIGERIAN YEAST & ALCOHOL MANUFACTURING PLC | 2008 | Regulatory: NSE |
NIGERIAN WIRE INDUSTRIES PLC | 3-Jun-13 | Regulatory: NSE |
NIGERIAN TEXTILE MILLS PLC | 2008 | Voluntary |
NIGERIAN SEWING MACHINE MANUFACTURING PLC | 13-Jul-15 | Regulatory: NSE |
NIGERIAN ROPES PLC | 1-Dec-16 | Regulatory: NSE |
NIGERIAN LAMPS PLC | 2008 | Regulatory: NSE |
NIGERIAN BOTTLING COMPANY PLC | 2011 | Voluntary |
NIGERIAN BAG MANUFACTURING COMPANY PLC | 11-Apr-13 | Merged with Flour Mills Nigeria Plc |
NIGERIA-GERMAN CHEMICALS PLC | 14-Jun-21 | Regulatory: NGX |
NIGERIA WIRE & CABLE PLC | 13-Jul-15 | Regulatory: NSE |
NIGERCEM PLC | 2011 | Regulatory: NSE |
NEWREST ASL NIGERIA PLC | 13-October-19 | Voluntary |
NEWPAK PLC | 2011 | Regulatory: NSE |
NAVITUS ENERGY PLC | 1-Dec-16 | Regulatory: NSE |
NAMPAK PLC | 2011 | Voluntary |
MTI PLC | 2-October-17 | Regulatory: NSE |
MTECH COMMUNICATIONS PLC | 2-October-17 | Regulatory: NSE |
MNET/SUPERSPORT | 6-Apr-15 | Regulatory |
MAUREEN LAB. PLC | 2008 | Regulatory: NSE |
LIZ-OLOFIN & COMPANY PLC | 2009 | Regulatory: NSE |
LENNARDS (NIGERIA) PLC | 1-Dec-16 | Regulatory: NSE |
KRABO NIGERIA PLC | 2011 | Regulatory: NSE |
JOS INTERNATIONAL BREWERIES PLC | 18-October-16 | ?Regulatory: NSE |
IPWA PLC | 18-October-16 | Regulatory: NSE |
INVESTMENT & ALLIED INSURANCE PLC | 18-October-16 | Regulatory: NSE |
INTRA MOTORS NIG. PLC | 2008 | Regulatory: NSE |
INTERCONTINENTAL BANK PLC | 2011 | Merged with Access Bank Plc. |
INCAR PLC | 2010 | Voluntary |
IMPRESIT BAKOLORI PLC | 2002 | Voluntary |
IHS NIGERIA PLC | 6-October-15 | Voluntary |
HALLMARK PAPER PRODUCT PLC | 2012 | Regulatory: NSE |
GROMMAC INDUSTRIES PLC | 2008 | Regulatory: NSE |
GREAT NIGERIA INSURANCE PLC | 25-Jan-19 | Voluntary |
Global Spectrum Energy Services Plc | 11-Jul-23 | Voluntary |
G. CAPPA PLC | 18-October-16 | Regulatory: NSE |
FORTIS MICROFINANCE BANK PLC | 21-Aug-19 | Regulatory: NSE |
FOREMOST DAIRIES PLC | 2011 | Regulatory: NSE |
FOOTWEAR MANUFACTURING PLC | 2009 | Regulatory: NSE |
FLEXIBLE PACKAGING PLC | 2011 | Regulatory: NSE |
FIRST CAPITAL INVESTMENT & TRUST PLC | 2011 | Regulatory: NSE |
FIRST ALUMINIUM NIGERIA PLC | 31-Jul-19 | Voluntary |
FINBANK PLC | 2011 | Merged with FCMB Plc |
FERDINAND OIL MILLS PLC | 2009 | Regulatory: NSE |
FAMAD PLC | 2009 | Regulatory: NSE |
EVANS MEDICAL PLC | 14-Jun-21 | Regulatory: NGX |
EPIC DYNAMIC PLC | 2009 | Regulatory: NSE |
ENPEE PLC | 2008 | Voluntary |
ECOBANK NIGERIA PLC | 2011 | Absorbed by ETI: Now Ecobank Nigeria Ltd |
DUMEZ NIGERIA PLC | 2002 | Regulatory: NSE |
DIAMOND BANK PLC | 1-Apr-19 | Merged with Access Bank Plc |
DANGOTE FLOUR MILLS PLC | 18-Nov-19 | Voluntary |
DAILY TIMES OF NIGERIA PLC | 2011 | Regulatory: NSE |
CRUSADER INSURANCE NIGERIA PLC | 13-October-13 | Merged with Custodian & Allied Insurance Plc |
COSTAIN (W.A) PLC | 1-Dec-16 | Regulatory: NSE |
CONTINENTAL REINSURANCE PLC | 17-Jan-20 | Voluntary |
CONFIDENCE INSURANCE PLC | 2012 | Licence Withdrawn |
CHRISTLIEB PLC | 2009 | Regulatory: NSE |
CFAO NIGERIA PLC | 2007 | Voluntary |
CERAMICS MANUFACTURING COMPANY PLC | 2008 | Regulatory: NSE |
CEMENT COMPANY OF NORTHERN NIGERIA PLC | 9-Jan-20 | Merged with BUA Cement Plc(formerly OBU Cement Company Plc) |
BIG TREAT PLC | 24-Nov-14 | Regulatory |
BHN Plc | 2007 | Regulatory |
BEVERAGES (WA) NIGERIA PLC | 2008 | Regulatory: NSE |
BECO PETROLEUM PRODUCTS PLC | 2-October-17 | Regulatory: NSE |
BCN PLC | 2009 | Regulatory: NSE |
BANK PHB PLC | 2011 | Nationalised: CBN |
BAICO INSURANCE PLC | 2008 | Regulatory: NAICOM |
AVON CROWN CAPS AND CONTAINERS PLC | 18-Sep-17 | Voluntary |
AVIATION DEVELOPMENT COMPANY PLC | 2008 | Regulatory: NSE |
ATLAS NIGERIA PLC | 2008 | Regulatory: NSE |
ASHAKA CEMENT PLC | 4-Jul-17 | Merged with Lafarge Africa Plc |
ASABA TEXTILE MILLS PLC | 2009 | Regulatory: NSE |
Ardova Petroluem Plc | 26-Jul-23 | Voluntary |
ANINO INTERNATIONAL PLC | 12-Oct-20 | Regulatory: NSE |
AMICABLE INSURANCE PLC | 2008 | Regulatory: NAICOM |
ALUMACO PLC | 18-October-16 | Regulatory: NSE |
ALBARKA AIRLINE PLC | 2011 | Regulatory: NSE |
AFROIL PLC | 24-Nov-14 | Regulatory |
AFRIK PHARMACEUTICALS PLC | 6-Apr-18 | Regulatory: NSE |
AFRICAN PAINTS (NIGERIA) PLC | 6-Apr-18 | Regulatory: NSE |
AFRIBANK PLC | 2011 | Nationalised: CBN |
AFPRINT PLC | 2010 | Regulatory: NSE |
ADSWITCH PLC | 18-October-16 | Regulatory: NSE |
ACEN INSURANCE PLC | 2008 | Regulatory: NAICOM |
Access Bank Plc | 28-Mar-22 | Merged with Access Holdings Plc |
ABPLAST PLC | 2012 | Regulatory: NSE |
ABOSELDEHYDE LABORATORIES PLC | 2009 | Regulatory: NSE |
ABA TEXTILE MILLS PLC | 2009 | Regulatory: NSE |
A.G. LEVENTIS (NIGERIA) PLC | 7-Jan-2020 | Voluntary |
11 Plc | 7-October-2021 | Voluntary |
THINGS TO CONSIDER BEFORE INVESTING IN UNQUOTED COMPANIES
Investing in unquoted companies can bring exciting opportunities for individuals and organizations seeking unique investment alternatives. While buying shares of publicly traded companies is relatively straightforward, investing in delisted companies requires careful consideration and due diligence.
Here are a few strategies to consider when investing in unquoted companies:
- Thorough Research: Before investing, conduct comprehensive research on the company’s financials, management team, competitive landscape, and growth prospects. Seek expert advice, if needed, to make informed decisions.
- Risk Management: Assess the risks associated with investing in unquoted companies. Remember that investing in such companies carries a higher risk compared to established listed companies. Diversify your portfolio and allocate only a portion of your investments to unquoted companies.
- Long-Term Mindset: Unquoted companies often require time to realize their full potential. Adopt a patient and long-term investment mindset to allow the company to grow and flourish.
- Partnering with Professionals: Consider investing through private equity firms or venture capital funds specializing in unquoted companies. These investment vehicles have experience and expertise in evaluating and nurturing such companies, which can increase the chances of success.
- Network and Events: Attend industry events, seminars, and networking sessions where you can connect with entrepreneurs, potential investees, and industry experts. Build relationships and gather insights to identify promising unquoted companies.
Remember, investing in unquoted companies carries risks, and it is essential to seek professional advice before making any investment decisions.
CONCLUSION
The list of unquoted companies in Nigeria holds immense potential, offering unique investment opportunities and contributing to economic growth and job creation. These privately held companies, though not listed on the stock exchange, they play a crucial role in driving innovation and progress across various industries. As an investor, exploring unquoted companies can diversify your portfolio and provide the chance to support local businesses. Before investing, conduct thorough research, manage risks, and consider partnering with professionals to maximize your chances of success. Please don’t confuse this list with the list of delisted companies in Nigeria by the CAC.