The Nigerian Exchange Limited (NGX) has lifted the suspension placed on the shares of Aso Savings & Loans Plc, marking the end of an eight-year trading halt and signaling a potential revival for the embattled mortgage institution.
The Exchange, in a market bulletin on Tuesday, said the decision followed the company’s compliance with key post-listing requirements and submission of outstanding financial statements.
The development paves the way for the resumption of full trading activities on the firm’s securities effective immediately.
Aso Savings & Loans, a primary mortgage bank headquartered in Abuja, had been suspended from trading in 2017 for failing to file its audited accounts and meet regulatory disclosure obligations.
The prolonged suspension had eroded investor confidence and raised concerns about the bank’s governance and operational status.
According to the NGX, the company has now met the minimum conditions for reinstatement, including the submission of all outstanding financial results up to the 2023 financial year.
The Exchange added that it would continue to monitor the firm’s post-restoration compliance to ensure sustained transparency.
Market analysts say the lifting of the suspension is a positive signal for the mortgage and real estate financing sector, which has faced years of underperformance due to liquidity constraints, regulatory lapses, and weak investor sentiment.
“This reinstatement suggests that Aso Savings is gradually regaining its footing. However, the company will need to rebuild investor trust and demonstrate operational viability before the market can price its true value,” said David Adonri, a capital market analyst.
The resumption of trading is expected to inject fresh liquidity into the stock and could open the door for new strategic investors as Nigeria’s housing finance market continues to attract policy attention.
With the NGX’s latest action, Aso Savings joins a growing list of companies recently reinstated after years of suspension, reflecting the Exchange’s renewed efforts to clean up the market and encourage compliance among listed entities.
