The Nigerian Exchange Limited (NGX) has suspended trading in the shares of three insurance companies for failing to submit their audited financial statements for the year ended December 31, 2024.
The suspension, which took effect on September 1, 2025, affects Regency Alliance Insurance Plc, International Energy Insurance Plc, and Universal Insurance Plc.
NGX said the action was taken in line with its Rules for Filing of Accounts and Treatment of Default Filing, which empower the Exchange to halt trading in a company’s securities if it fails to file results within the stipulated grace period.
According to the rules, an issuer that misses the filing deadline is first issued a deficiency notice. If the default persists beyond the cure period, the Exchange issues a second notice, suspends trading in the securities, and reports the matter to the Securities and Exchange Commission (SEC) within 24 hours.
“Consequently, trading in the shares of Regency Alliance Insurance Plc, International Energy Insurance Plc, and Universal Insurance Plc has been suspended effective Monday, September 1, 2025, for failure to file their audited financial statements for the year ended December 31, 2024. The suspension will be lifted once the outstanding financial statements are submitted,” NGX said in a statement.
The Exchange noted that the measure is aimed at protecting investors and reinforcing compliance with its regulatory framework.
The SEC has been formally notified, while investors have been advised to follow NGX updates for information on when trading in the affected stocks will resume.
