NGX penalizes over 30 firms for filing breaches

Business NGX penalizes over 30 firms for filing breaches Published on April 28, 2026 By Ogaga Ariemu googletag.cmd.push(function() { googletag.display('div-gpt-ad-1500386953281-8'); }); The Nigerian Exchange Limited fined over 30 listed firms, a cumulative sum of N562.6 million. The fine came because the firms missed financial filing deadlines, facing penalties, suspensions, and delisting. This is according to the latest X-Compliance Report, stating that the firms failed to submit 2025 audited financial statements on time. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1524595905268-5'); }); Listed firms like STACO Insurance, Union Dicon Salt, Pharma-Deko, and FTN Cocoa Processors now risk delisting, with some in restructuring. Similarly, Aluminium Extrusion and Prestige Assurance are hit by the fine. Beyond filing delays, the NGX highlighted breaches related to unauthorized disclosures and trading during closed periods. and were cited among PPP companies that violated disclosure rules, attracting regulatory caution. DAILY POST found additional structural concerns within the NGX, particularly around free float deficiencies. Several companies, including Aluminium Extrusion Industries and Prestige Assurance, fell below required thresholds, prompting regulatory waivers and compliance timelines aimed at restoring market liquidity. NGX penalises over 30 firms for filing breaches Don't Miss There’s nothing like vehicle tax in Nigeria – Kuta defends Oyedele, NRS You may like NGX extends rally as investors record massive N861bn gain Banking stocks lift NGX Market Cap to N140.44tn as investors gain N609bn NGX investors record N390bn gain amid bullish run NGX hits historic ASI 201,000 mark as investors gain N1.97tn NGX bounces back as investors gain N648bn after two-day decline Nigerian bank, 37 other stocks push NGX into N515bn loss

SOURCE: https://dailypost.ng/2026/04/28/ngx-penalizes-over-30-firms-for-filing-breaches/