Nigerian Stock Exchange (NSE) expelled no fewer than 22 companies between 2016 and 2017 over non-performance and failure to meet the required post-quotation standards.
Data from the exchange showed that the delisted companies included Cappa and D’alberto, intercontinental bank preference shares, ipwa, g cappa and West African glass industries.
Others were Investment & Allied Insurance, Alumaco, jos international breweries, Adswitch, Rokanna, Vono Products, Lennards Nigeria, P.S. Mandrides & Company, Premier Breweries, Costain, Navitus Energy, Nigerian Ropes, Beco Petroleum, M Tech Communication, MTI, UTC and Ashaka Cement.
However, Seven-Up Bottling Company, African Paints and Afrik Pharmaceuticals were delisted in 2018.
The exchange, however, listed only five new companies: the initiatives, in 2016, while Transcorp Hotels, Global Spectrum Energy Service, Jaiz Bank and med-view airline were listed in 2017.
Mr Oscar Onyema, Chief Executive Officer, NSE, said recently that companies in their life cycle would be listed, while others would be delisted over time.