NGX to delist Greif, DN Tyre over compliance failures, liquidation

The NGX Regulation Limited (NGX RegCo) has approved the delisting of DN Tyre and Rubber Plc and Greif Nigeria Plc from the Daily Official List of the Nigerian Exchange (NGX) Limited, years after failed efforts to help resuscitate the entities.

The NGX regulatory compliance arm said the decision was ratified at the regulator’s board meeting on March 27, 2026 and will take effect today, April 9, 2026.

While DN Tyre exits after years of unsuccessful restructuring and regulatory engagement, Greif Nigeria’s removal follows the completion of its formal liquidation process.

What NGX RegCo is saying
NGX RegCo said the delisting of both companies is in line with its mandate to uphold listing standards and ensure transparency in the capital market.

The action was approved after extensive regulatory reviews and engagements with the affected entities.
According to the regulator, DN Tyre had been engaged for over 12 years in efforts to restore it to compliance.
Despite being reclassified as a “Restructuring” company in 2018 and granted multiple extensions, including an additional one-year window in 2023, the company failed to resolve its deficiencies or attract investors.
In the case of Greif Nigeria, NGX RegCo noted that the company had completed its formal liquidation process on November 27, 2025, making its delisting a procedural step.

The regulator added that the move provides clarity to investors while reinforcing market integrity.

More insights
DN Tyre’s prolonged struggle highlights the challenges faced by legacy manufacturing firms on the Nigerian Exchange, particularly those grappling with weak capital structures, operational shutdowns, and an inability to attract fresh investment.

Its 10-year business plan covering 2020–2029 failed to deliver a turnaround despite all efforts by the regulators to help actualize the plan.
The company had received several regulatory concessions over the years, including a final delisting notice in April 2018 and subsequent extensions tied to its restructuring programme.

However, the absence of credible investor commitment ultimately led to the resumption and completion of the delisting process.

What you should know
Delisting from the Nigerian Exchange may arise from regulatory non-compliance, financial distress, or corporate actions such as mergers and liquidation.

In this instance, DN Tyre’s removal was enforcement-driven, while Greif Nigeria’s was administrative following liquidation.
Both companies had been on NGX delisting watchlist for several years while regulators explored opportunities to help restore them back to operations.
For investors, delisting means that their shares can no longer be traded on the Exchange.

Shareholders of Greif may have to wait for any residual value distribution that may arise from the liquidation proceedings. For the investors in DN Tyre, it is a case of investment gone irredeemably bad.

Kelechi Mgboji

Kelechukwu Mgboji is a Bloomberg-certified (BMIA) financial journalist with a wealth of experience covering Nigeria’s financial markets. He provides expert analysis on financial market trends and corporate performances in Nigeria’s evolving economy. A graduate of Literature, he is known for analytical depth and clarity in translating complex economic and fiancial markets data into actionable insights for investors, policymakers, and business leaders across Africa’s financial and investment landscape.