Not compliant
Union Dicon Salt does not pass Shariah screening under the AAOIFI Standard.
NGX: UNIONDICON · Consumer goods · Screened 31 Aug 2026
Union Dicon Salt Plc processes crude salt into iodized edible salt, table salt and industrial salt with controlled thickness and chemical composition, and sells processed crude salt wholesale. The business began as Dicon Salt Limited in 1984, a 60:40 joint venture between the Defence Industries Corporation of Nigeria and its Brazilian technical partners AIMS. The companies merged and converted to a public limited liability company on 7 May 1993 to become Union Dicon Salt Plc, listing on the Nigerian Stock Exchange on 23 September 1993. The company is headquartered in Lagos, Nigeria.
For the year ended 31 December 2024, the company reported an operating loss before tax of N102.4 million and a total comprehensive loss of N103.8 million. The accounts describe the company as not trading in terms of product sales and on the way to starting production, with income generated through a joint venture arrangement with Joatalim Logistic Limited.
In 2026, management announced a turnaround plan following the company's placement on the NGX Delisting Watchlist due to prolonged inactivity. The NGX granted a two-year stay of action, and management has commissioned salt and pepper production facilities with NAFDAC approval, with packaging operations for Dicon Salt and Dicon Hot Pepper products now commenced. However, the company has been unable to contact its majority shareholder, Aims Limited, which holds 40% of the company's shares, complicating efforts to restore full regulatory compliance.
Salt processing and wholesale, currently supplemented by income from the Joatalim Logistic Limited joint venture. The company reported no product trading for FY2024.
No. As of 31 August 2026, Union Dicon Salt (UNIONDICON) does not pass Shariah screening under the AAOIFI Standard.
Qistal re-screens every NGX ticker when new audited or interim accounts are filed. This page always shows the date of the most recent screen.
Yes. Compliance drifts as a company borrows, raises cash, or changes its business mix, so a verdict describes a moment rather than a permanent status.