September 1, 2025
The Nigerian Exchange Limited, NGX, has announced the suspension of trading in three insurance firms, effective Monday, 1 September 2025.
The suspended trading are the shares of Regency Alliance Insurance Plc, International Energy Insurance Plc and Universal Insurance Plc.
Shareholders in the affected insurance companies will not be able to trade the stock on the Nigerian Exchange until the audited results are submitted in the equity market.
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The Exchange, said the suspension follows the companies’ failure to file their Audited Financial Statements for the year ended 31 December 2024, as required under Rule 3.1 of the Rules for Filing of Accounts and Treatment of Default Filing.
As the rule stipulates, where an issuer fails to submit its accounts by the expiration of the cure period, the Exchange shall issue a second filing deficient notification within two business days, suspend trading in the issuer’s securities, and notify the Securities and Exchange Commission (SEC) and the market within twenty-four hours.
NGX noted that trading in the affected securities will remain suspended until the companies submit their outstanding financial statements in compliance with the rules of filing of Accounts and Treatment of Default Filing.
