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Nigerian Exchange Limited (NGX) has imposed fines exceeding N200 million on 20 listed companies across the banking, oil and gas, financial services, real estate, and technology sectors for failing to comply with regulatory filing requirements.
The sanctions, which cut across key segments of the Nigerian capital market, highlight the Exchange’s intensified enforcement of disclosure standards and corporate governance obligations.
Leading the list of penalised firms is Oando Plc, which was fined N95 million for multiple defaults in its audited and interim financial filings. Conoil Plc followed with a penalty of N27.4 million, while Secure Electronic Technology Plc and Caverton Offshore Group Plc were fined N19.1 million and N17.1 million respectively for similar infractions. In the banking sector, Jaiz Bank Plc incurred a N15.9 million fine for late submission of audited and interim financial statements. Fidelity Bank Plc was penalised N9.8 million for overdue second and third quarter 2025 interim reports, while First HoldCo Plc also drew a N9.8 million fine over delays in audited and interim filings. Market observers say the scale and spread of the penalties signal NGX’s growing resolve to enforce compliance with greater rigour, particularly as sectors such as insurance conclude recapitalisation exercises and face heightened regulatory scrutiny. The Exchange has advised investors to closely monitor Compliance Status Indicators (CSI) assigned to listed companies — including MRF (Missed Regulatory Filing), DWL (Delisting Watchlist), DIP (Delisting in Process), and RST (Restructuring) — as part of their due diligence before making investment decisions