NGX Delists ASO Savings & Loans After CBN Licence Revocation
The Nigerian Exchange Limited (NGX) has delisted the securities of ASO Savings and Loans Plc following the revocation of the company’s operating licence by the Central Bank of Nigeria (CBN), effectively bringing an end to the trading of the firm’s shares on the Exchange.
In a regulatory notice to trading licence holders and the investing public, NGX said the delisting was in line with its listing rules and in the interest of market integrity.
The Exchange explained that the action was necessitated by the withdrawal of ASO Savings and Loans’ operating licence by the CBN, which became effective on December 16, 2025.
According to NGX, the loss of the company’s licence rendered its securities unsuitable for continued listing and trading on the Exchange.
As a result, ASO Savings and Loans Plc has been removed from the Daily Official List, and its securities are no longer available for trading on the NGX platform.
Advertisement
The Exchange cited Clause 14 of the Amended Form of General Undertaking for Listing on Nigerian Exchange Limited, which empowers NGX to suspend trading, delist securities, or remove an issuer from its official list where the issuer fails to comply with listing requirements or where such action is deemed necessary in the public interest.
The clause also grants the Exchange discretion to take such action with or without prior notice to the affected issuer.
NGX noted that the decision aligns with its broader mandate to uphold orderly markets, protect investors, and ensure that only companies meeting regulatory and operational standards remain listed.
The Exchange added that regulatory delisting is a standard measure where an issuer can no longer meet the fundamental conditions required for listing, including holding a valid operating licence from its primary regulator.
ASO Savings and Loans Plc, a primary mortgage bank, had operated within Nigeria’s financial services sector prior to the CBN’s intervention.
While the CBN has not detailed the full reasons for the licence revocation in the NGX notice, such actions typically follow prolonged regulatory infractions, governance issues, or failure to meet prudential requirements.
Advertisement
Market analysts say the delisting serves as a reminder to investors of the importance of regulatory compliance and ongoing due diligence, particularly in regulated sectors such as banking and financial services.
They also note that NGX’s swift action reinforces confidence in the Exchange’s regulatory oversight and commitment to maintaining a transparent and credible market.
NGX advised investors with holdings in ASO Savings and Loans Plc to seek professional guidance on the implications of the delisting and any subsequent steps that may be available under applicable laws and regulations.
