Multitrex Integrated Foods Plc, Nigeria’s cocoa processing powerhouse, is poised to resume trading on the Nigerian Exchange Limited (NGX) early this May
This development, according to a statement marks the end of a technical suspension that has lasted over 10 years, signaling a new era of transparency and growth for the company and its shareholders.
In a formal update to the NGX, the company, in the statement said that it has successfully cleared a decade-long backlog of financial filings from 2014 through 2024.
“The final phase of this regularization—the 2025 Audited Financial Statement (AFS)—has reached its concluding stages. It said rigorous audit process for the year ended April 30, 2025, is now complete.
On Regulatory & Committee Review, it said “The Financial Reporting Council of Nigeria (FRCN) has reviewed and provided the necessary clearance for the accounts. Both the Statutory Audit Committee and the Board Finance, Risk, and Audit Committee have met, finalized the statements, and recommended them for final Board approval”.
It further said that the e Board of Directors is scheduled to meet in exactly to formally approve the accounts, after which they will be immediately uploaded to the X-Issuer portal. Announcing its Systems Upgrade, it said a critical component of this recovery was a comprehensive change in accounting software to ensure future reporting remains seamless and robust.
The company explained that following a successful debt settlement arrangement with the Asset Management Corporation of Nigeria (AMCON), Multitrex has emerged with a “lean sheet”.
Key highlights include: Debt Resolution: The company has fully liquidated its outstanding debt to AMCON through a strategic partnership with N-Foods Universal Concept Limited (NFUC). It said with the last tranche of debt paid at N3.18 per share, the company currently has almost zero gearing and is freed from previous stifling financial obligations.
The company said its future is anchored by local strategic investor as well as global giants in the cocoa value chain in Europe. This alliance ensures a steady supply of raw cocoa beans and a ready international offtake for finished products.
According to the firm, the Federal Government’s 2026 ban on processed cocoa imports means domestic beverage giants like Nestle and Cadbury must now look inward to local processors like Multitrex, it said.
It said with a clean balance sheet, world-class technical partners, and a favorable regulatory environment, the company is poised to mirror the success of other agricultural giants .