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.

list of unquoted companies in nigeria

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.


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.


According to the NGX Group data, here are the 124 examples of delisted companies in Nigeria, the date delisted and the reason.


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.


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.

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Oluchi Chukwu

Oluchi is a seasoned Information blogger, content developer and the editor of Nigerian Queries. She is a tech enthusiast who loves reading, writing and research

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