30 MINUTES DELAYED DATA: ABB2026S0 N100.000.00 % ABBEYBDS [BLS] N1.700.00 % ABC2027S0 N100.000.00 % ABCTRANS N0.270.00 % ACADEMY N1.700.00 % ACCESSCORP N8.800.50 % ADV2028S1A N100.000.00 % ADV2031S1B N100.000.00 % AFRINSURE [MRF] N0.200.00 % AFRIPRUD N5.550.00 % AFROMEDIA N0.200.00 % AGB2024S0 N100.000.00 % AIICO N0.560.01 % AIRTELAFRI N2000.000.00 % ALEX [BLS] N7.200.00 % ARBICO N1.030.00 % ARDOVA N12.800.00 % ASOSAVINGS [DIP] N0.500.00 % AUSTINLAZ [BLS] N2.030.00 % AXA2027S1 N100.000.00 % BAPLC N6.250.00 % BAU2021S1 N100.000.00 % BERGER N5.95-0.65 % BETAGLAS N46.100.00 % BUA2027S1 N100.000.00 % BUACEMENT N47.85-2.25 % BUAFOODS N58.300.00 % CADBURY N11.850.10 % CAP N17.750.00 % CAPHOTEL [BLS] N3.400.00 % CAPOIL [MRF] N0.200.00 % CAVERTON N1.01-0.04 % CHAMPION [BLS] N3.690.00 % CHAMS N0.27-0.02 % CHELLARAM [MRF] N2.240.00 % CHIPLC N0.55-0.03 % CIB2023S1 N100.000.00 % CIL2028S2 N100.000.00 % CILEASING N3.200.00 % CMB2025S1 N100.000.00 % CONOIL N26.500.00 % CORNERST N0.560.02 % COURTVILLE N0.45-0.01 % CSF2025S1 N100.000.00 % CUSTODIAN N6.500.00 % CUTIX N2.050.00 % CWG [BLS] N0.81-0.09 % DAARCOMM N0.200.00 % DAN2024S1TA N100.000.00 % DAN2026S1TB N100.000.00 % DAN2027S2TA N100.000.00 % DAN2028S1TC N100.000.00 % DAN2029S2TB N100.000.00 % DAN2032S2TC N100.000.00 % DANGCEM N245.000.00 % DANGSUGAR N16.050.00 % DCM2025S1 N100.000.00 % DEAPCAP [DWL] N0.200.00 % DUNLOP [MRS] N0.200.00 % EKOCORP [BMF] N5.790.00 % ELLAHLAKES N3.600.00 % ENAMELWA N16.200.00 % EPF2026S1 N100.000.00 % ETERNA N5.75-0.60 % ETI N11.050.00 % ETRANZACT N3.200.00 % EUNISELL N2.910.00 % FBNH N10.150.00 % FBQ2023S1 N98.240.00 % FBQ2030S2 N100.000.00 % FCMB N3.240.01 % FFFBNBALF N146.140.00 % FFFBNFIF N1234.590.00 % FFFBNMMF N100.000.00 % FFFRONTIER N121.430.00 % FFFSDHCGF N3002.680.00 % FFFSDHCIF N2858.810.00 % FFIONEABMM N100.000.00 % FFIONEVBF N2.150.00 % FFIONEVGIF N1.000.00 % FFLEGYDTFD N3.350.00 % FFLEGYEYFD N1.180.00 % FFLEGYMMFD N100.000.00 % FFLEGYUBFD N1.040.00 % FFSFSFIXED N1.030.00 % FFUNCAPBDF N1.650.00 % FFUNCAPBLF N1.230.00 % FFUNCAPEBF N109.300.00 % FFUNCAPEQF N0.720.00 % FFUNCAPMMF N1.000.00 % FFUNCAPWFF N1.120.00 % FG112024S1 N118.320.00 % FG112024S1 N118.320.00 % FG112034S2 N101.000.00 % FG112034S2 N101.000.00 % FG132026S1 N100.230.00 % FG132026S1 N100.230.00 % FG132036S2 N96.500.00 % FG132036S2 N96.500.00 % FG142027S1 N110.000.00 % FG142027S1 N110.000.00 % FG142037S2 N119.780.00 % FG142037S2 N119.780.00 % FG152023S3 N103.000.00 % FG152025S2 N102.890.00 % FG152025S2 N102.890.00 % FG152028S1 N100.800.00 % FG152028S1 N100.800.00 % FG162029S1 N102.470.00 % FG162029S1 N102.470.00 % FG162049S2 N145.050.00 % FG162049S2 N145.050.00 % FG172035S1 N114.370.00 % FG172035S1 N114.370.00 % FG172045S3 N100.000.00 % FG172045S3 N100.000.00 % FG172050S2 N105.000.00 % FG172050S2 N105.000.00 % FG182032S2 N100.000.00 % FG182042S1 N100.000.00 % FG5B2028S5 N100.000.00 % FG5B2028S5 N100.000.00 % FG6B2029S3 N100.000.00 % FG6B2029S3 N100.000.00 % FG6B2029S5 N100.000.00 % FG6B2029S5 N100.000.00 % FG7B2030S3 N70.500.00 % FG7B2030S3 N70.500.00 % FGB2022S1 N100.000.00 % FGB2022S1 N100.000.00 % FGB2026S2 N108.000.00 % FGB2026S2 N108.000.00 % FGEUR2023S9 N98.190.00 % FGEUR2025S5 N100.000.00 % FGEUR2027S2 N100.000.00 % FGEUR2028S10 N100.000.00 % FGEUR2029S4 N100.000.00 % FGEUR2030S8 N100.000.00 % FGEUR2031S6 N100.000.00 % FGEUR2032S1 N100.000.00 % FGEUR2033S11 N100.000.00 % FGEUR2038S7 N100.000.00 % FGEUR2047S3 N100.000.00 % FGEUR2049S4 N100.000.00 % FGEUR2051S12 N100.000.00 % FGS202263 N100.010.00 % FGS202263 N100.010.00 % FGS202265 N100.010.00 % FGS202265 N100.010.00 % FGS202267 N99.210.00 % FGS202267 N99.210.00 % FGS202278 N100.000.00 % FGS202278 N100.000.00 % FGS202280 N100.000.00 % FGS202280 N100.000.00 % FGS202282 N100.000.00 % FGS202301 N90.000.00 % FGS202303 N100.000.00 % FGS202305 N100.000.00 % FGS202307 N90.000.00 % FGS202369 N90.000.00 % FGS202369 N90.000.00 % FGS202371 N90.000.00 % FGS202371 N90.000.00 % FGS202373 N100.000.00 % FGS202373 N100.000.00 % FGS202375 N85.000.00 % FGS202375 N85.000.00 % FGS202377 N100.000.00 % FGS202377 N100.000.00 % FGS202379 N100.000.00 % FGS202379 N100.000.00 % FGS202381 N100.000.00 % FGS202381 N100.000.00 % FGS202383 N100.000.00 % FGS202384 N100.000.00 % FGS202386 N90.000.00 % FGS202388 N90.000.00 % FGS202390 N100.000.00 % FGS202392 N100.000.00 % FGS202394 N90.000.00 % FGS202396 N60.000.00 % FGS202398 N109.500.00 % FGS202402 N100.000.00 % FGS202404 N100.000.00 % FGS202406 N98.460.00 % FGS202408 N100.000.00 % FGS202409 N100.000.00 % FGS202411 N100.000.00 % FGS202413 N100.000.00 % FGS202415 N100.000.00 % FGS202485 N100.000.00 % FGS202487 N81.000.00 % FGS202489 N75.000.00 % FGS202491 N100.000.00 % FGS202493 N99.990.00 % FGS202495 N99.990.00 % FGS202497 N100.000.00 % FGS202499 N99.990.00 % FGS202510 N100.000.00 % FGS202512 N100.000.00 % FGS202514 N100.000.00 % FGS202516 N100.630.00 % FGSUK2024S1 N110.000.00 % FGSUK2025S2 N100.200.00 % FGSUK2027S3 N96.000.00 % FGSUK2031S4 N106.000.00 % FHSUK202801 N100.000.00 % FID2031S1 N100.000.00 % FIDELITYBK N3.780.11 % FIDSON N9.950.00 % FLOURMILL N30.300.00 % FMN2023S2 N100.000.00 % FMN2023S3A N100.000.00 % FMN2025S3B N100.000.00 % FTNCOCOA [RST] N0.28-0.01 % GLAXOSMITH N5.900.00 % GMB2019S1 N100.000.00 % GOLDBREW [BLS] N0.810.00 % GOLDINSURE [MRS] N0.200.00 % GREENWETF N100.000.00 % GSPECPLC N2.750.00 % GTCO N18.50-0.60 % GUINEAINS N0.200.00 % GUINNESS N83.000.00 % HONYFLOUR N2.350.00 % IAO2026S1 N100.000.00 % IKEJAHOTEL N1.200.00 % IMG N7.400.00 % INFINITY [BLS] N1.270.00 % INTBREW [BLS] N5.100.05 % INTENEGINS [MRS] N0.380.00 % JAIZBANK N0.78-0.02 % JAPAULGOLD N0.27-0.01 % JBERGER N25.900.00 % JOHNHOLT N0.810.00 % JULI N0.790.00 % KGB2020S1 N100.000.00 % KGB2022S2 N100.000.00 % LAB2023S1 N100.000.00 % LAB2027T2 N100.000.00 % LAB2027T4 N100.000.00 % LASACO N0.92-0.03 % LEARNAFRCA N1.860.00 % LFZ2041S1 N100.000.00 % LFZ2042S2 N100.000.00 % LINKASSURE N0.47-0.01 % LIVESTOCK N1.11-0.02 % LIVINGTRUST [BLS] N1.430.00 % LMS2025S2 N100.000.00 % LOTUSHAL15 N13.500.00 % MANSARD N1.700.00 % MAYBAKER N3.880.00 % MBENEFIT N0.280.00 % MCI2026S1 N100.000.00 % MCNICHOLS N0.620.00 % MEDVIEWAIR [BMF] N1.620.00 % MERGROWTH N17.500.00 % MERVALUE N16.500.00 % MEYER N2.270.00 % MORISON N2.190.00 % MRE2023S2A N100.000.00 % MRE2023S2B N100.000.00 % MRS N14.350.00 % MTNN N200.100.20 % MULTITREX [DWL] N0.360.00 % MULTIVERSE N2.820.00 % NAHCO N5.750.00 % NASCON N11.000.00 % NB N48.400.00 % NCR N3.600.00 % NEIMETH N1.560.00 % NEM N5.390.00 % NESF N552.200.00 % NESTLE N1350.000.00 % NEWGOLD N11501.140.00 % NGXGROUP N17.00-1.00 % NIGERINS [MRF] N0.200.00 % NMR2027S3 N100.000.00 % NMR2030S1 N100.000.00 % NMR2033S2 N100.000.00 % NNFM N7.500.00 % NOTORE [BLS] N62.500.00 % NOVA2027S1 N100.000.00 % NPFMCRFBK [BLS] N1.550.00 % NSLTECH N0.200.00 % NSP2031S2 N100.000.00 % NSP2034S1 N100.000.00 % OANDO [MRF] N4.900.00 % ODB2027S1 N100.000.00 % OKOMUOIL N188.300.00 % OMATEK [RST] N0.200.00 % PBS2026S1 N100.000.00 % PHARMDEKO N2.050.00 % PREMPAINTS [MRF] N10.000.00 % PRESCO N142.600.00 % PRESTIGE [BLS] N0.510.00 % PZ [MRF] N9.250.00 % RAKUNITY [MRF] N0.300.00 % REDSTAREX N2.360.00 % REGALINS N0.260.00 % RESORTSAL [MRF] N0.200.00 % RONCHESS N81.000.00 % ROYALEX [MRF] N1.020.00 % RTBRISCOE N0.350.02 % SB2024S1TA N100.000.00 % SB2024S1TB N100.000.00 % SCOA N1.750.00 % SEPLAT N1250.000.00 % SFSREIT N77.000.00 % SIAMLETF40 N58.000.00 % SIM2023S1 N100.000.00 % SIM2025S2 N100.000.00 % SKYAVN N5.000.00 % SMURFIT [MRF] N0.200.00 % SOVRENINS N0.26-0.01 % STACO [MRF] N0.480.00 % STANBIC N29.00-1.00 % STANBICETF30 N72.000.00 % STDINSURE [MRF] N0.200.00 % STERLNBANK N1.49-0.01 % SUNUASSUR N0.32-0.03 % TANTALIZER N0.200.00 % THOMASWY [MRS] N0.350.00 % TIP N0.480.00 % TOTAL N211.100.00 % TOURIST [DIP] N2.840.00 % TRANSCOHOT [BLS] N6.250.00 % TRANSCORP N1.050.00 % TRANSEXPR N0.750.00 % TRIPPLEG N0.810.00 % TRN2022S1 N100.000.00 % TSL2030S1 N100.000.00 % UACN N10.250.00 % UBA N7.300.10 % UBN [BLS] N5.750.00 % UBN2029S3 N100.000.00 % UCAP N11.200.00 % UCAP2025S1 N100.000.00 % UHOMREIT N36.600.00 % UNHOMES [DIP] N3.020.00 % UNILEVER N13.000.00 % UNIONDAC [DIP] N0.280.00 % UNIONDICON [BRS] N8.950.00 % UNITYBNK N0.440.00 % UNIVINSURE N0.200.00 % UPD2023S1 N100.000.00 % UPDC [BLS] N0.960.00 % UPDCREIT N3.200.00 % UPL N1.630.00 % VANLEER N5.450.00 % VERITASKAP N0.200.00 % VETBANK N3.610.06 % VETGOODS N6.080.00 % VETGRIF30 N16.42-0.16 % VETINDETF N17.22-0.73 % VITAFOAM N22.451.45 % VSPBONDETF N173.930.00 % WAPCO N24.500.00 % WAPIC N0.35-0.02 % WEM2023S1 N100.000.00 % WEMABANK N3.460.00 % ZENITHBANK N19.95-0.05 %

Listing Requirements

Home Nigerian Exchange List Listing Requirements

To list on Nigerian Exchange (NGX), your company must meet minimum admission criteria, including structure, size, free float and number of shareholders. The NGX Rule Book sets out the requirements for listing on Nigerian Exchange. The table below provides a summary of the key requirements for listing equity on NGX.  For details of the listing requirements, please refer to the Rulebook of Nigerian Exchange.

Criteria​​​ Growth Board Main Board Premium Board Dual Listing
Entry Standard Standard A Standard B Standard C
Pre-tax profits No requirement No requirement Cumulative pre-tax profits from continuing operations of not less than NGN300 million over the last 3 years, with at least NGN100 million pre-tax profit in 2 of these years Cumulative pre-tax profits from continuing operations of not less than NGN600 million over the last 1 or 2 years No requirement Satisfy main board requirements No specific requirement
Market capitalization Not less than NGN50 million at the time of listing (based on the issue price and issued share capital) Not less than NGN500 million at the time of listing (based on the issue price and issued share capital) No requirement Not less than NGN4 billion at the time of listing (based on the issue price and issued share capital) Market cap equal to or greater than N200 billion, at the date of application. At least N28 billion or equivalent at the time of listing, based on the issue price and issued share capital
Operating track record 2 years minimum operating track record OR; a new business that can provide evidence of investment in it by: A core investor or a strong technical partner that has a minimum of two (2) years’ operating track record, or A majority shareholder who is either a High Net Worth individual or is a director of a listed company 2 years minimum operating track record OR; a new business that can provide evidence of investment in it by: A core investor or a strong technical partner who has a minimum of four (4) years’ operating track record, or A majority shareholder who is a High Net Worth individual 3 years minimum operating track record 3 years minimum operating track record; or evidence of 3 years minimum operating track record of a core investor Score a minimum of 70% under the NGX’s Corporate Governance Ratings System (CGRS) Company must have been in operation for at-least 2 years
Financials 2 years financials (date of last audited accounts must not be more than 9 months); or evidence of a strong technical partner with substantial equity holding and involvement in the Issuers’ management, who has a minimum of 2 years’ operating track record and financial statements 2 years financials (date of last audited accounts must not be more than 9 months); or evidence of a strong technical partner with substantial equity holding and involvement in the Issuers’ management, who has a minimum of 4 years’ operating track record and financial statements 3 years’ financial statements; with the most recent of which must not be more than 9 months old at the time of submission of the listing application 3 years financials (date of last audited accounts must not be more than 9 months); or evidence of a strong technical partner with substantial equity holding and involvement in the Issuers’ management, who has a minimum of 3 years’ operating track record and financial statements Satisfy other main board requirements Minimum of 2 years financials (date of last audited accounts must not be more than 9 months)
Public float The public shall hold a minimum of 10% of each class of equity securities The public shall hold a minimum of 15% of each class of equity securities The public shall hold a minimum of 20% of each class of equity securities Free float greater or equal to N40bn The public shall hold a minimum of 10% of each class of equity securities
Shareholders’ equity No specific requirement No specific requirement Not less than NGN3 billion. No requirement No specific requirement No specific requirement
IPO Lock Up Period Promoters and Directors to retain 5O% of shares for 12 months from the date of listing Promoters and Directors to retain 5O% of shares for 12 months from the date of listing Promoters and Directors to retain 5O% of shares Pre-IPO for 12 months from the date of listing Satisfy main board requirements No specific requirement
Public shareholders The number of the public shareholders shall not be less than 21 (for equity shares The number of the public shareholders shall not be less than 51 (for equity shares The number of the public shareholders shall not be less than 300 (for equity shares) Satisfy main board requirements The number of the public shareholders shall not be less than 51 (for equity shares
Annual listing fees Fixed flat rates as prescribed by the NGX (currently set at a total fee of NGN450 thousand for a new listing (i.e. Application fee for a new or additional listing of NGN250,000(50% Discount on application fees for the first 24months from launch date of the board); and an Annual fee of NGN200,000) Based on market capitalization; subject to a maximum amount as prescribed by the NGX fee schedule (Application fee  for a new or additional listing is 0.1% of value (50% Discount on application fees for the first 24months from launch date of the board) Based on market capitalization; subject to a maximum amount as prescribed by the NGX fee schedule (currently NGN4.2 million) Based on market capitalization; subject to a maximum amount as prescribed by the NGX fee schedule (currently NGN4.2 million) Subject to applicable listing Board fee schedule
Business operations Company must be registered as a Public Limited Liability Company under the provisions of the Companies & Allied Matters Act Company must be registered as a Public Limited Liability Company under the provisions of the Companies & Allied Matters Act Company must be registered as a Public Limited Liability Company under the provisions of the Companies & Allied Matters Act Company must be registered as a Public Limited Liability Company under the provisions of the Companies & Allied Matters Act Company must be registered as a Public Limited Liability Company under the provisions of the Companies & Allied Matters Act Company must be registered as a Public Limited Liability Company under the provisions of the Companies & Allied Matters Act No requirement for operations in Nigeria
Accounting standard International Financial Reporting Standards (IFRS); in line with SEC regulations
Allotment Securities to be fully paid up at time of allotment in line with SEC requirements for minimum threshold for a successful offer
Continuing obligation requirements of the NGX’s Listing, Disclosure & Transparency Rules Submission of quarterly, semi-annual and annual statements. Annual certification on adherence to corporate governance required. Companies must retain a Designated Adviser for as long as they are listed Submission of quarterly, semi-annual and annual statements. Annual certification on adherence to corporate governance required. Companies must retain a Designated Adviser for as long as they are listed Submission of quarterly, semi— annual and annual statements. Annual certification on adherence to corporate governance required. Submission of quarterly, semi— annual and annual statements. Annual certification on adherence to corporate governance required. Waived from having to comply with continuing listing obligations if listed on another foreign stock exchange with WFE status. Companies require a resident nominated representative for as long as they are listed.
Growth Board

Ideal for small-cap and growth-oriented companies looking to raise capital and promote liquidity in the trading of their shares

Main Board

Our founding board designed for well-established companies with a demonstrable record of accomplishment

Premium Board

The listing segment for the elite group of issuers that meet the Exchange’s most stringent corporate governance and li​sting

A customer centric focus

Maximising the benefits of an NGX listing through active relationship management is at the heart of our retention efforts.

Enjoy the full complement of our Value Added Services. NGX partners with local and international service providers to deliver solutions aimed at creating competitive edge for issuers, and improving investor interest in our market.

Be a part of the NGX Sectoral Dinner, a platform that ensures continuous dialogue with key stakeholders and provides strategic solutions to sectoral issues, for follow up implementation in our capital market advocacy role.

Celebrate your listing and key milestones with the NGX gong ceremony with adequate traditional and digital media coverage from both domestic and international media outlets on our floor.

Share your financial story with the highly engaged audience including, investors, brokers, analysts, fund managers, media, etc.

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Primary Market Department​
Nigerian Exchange
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