The Nigerian Exchange Limited (NGX) has suspended trading in the shares of three listed insurance companies for failing to submit their audited financial statements for the year ended December 31, 2024.
The suspension, which took effect on Monday, September 1, 2025, affects Regency Alliance Insurance Plc, International Energy Insurance Plc, and Universal Insurance Plc.
According to NGX, the decision is in line with the Default Filing Rules contained in the Exchange’s Rules for Filing of Accounts and Treatment of Default Filing. The rules state that any issuer that fails to file its accounts at the expiration of the cure period will be served with a second filing deficiency notification, have trading in its securities suspended, and be reported to the Securities and Exchange Commission (SEC) within 24 hours.
In a statement, the Exchange explained:
“Trading Licence Holders and the investing public are hereby notified that, pursuant to Rule 3.1 of the Rules for Filing of Accounts and Treatment of Default Filing, if an issuer fails to file the relevant accounts by the expiration of the cure period, the Exchange will send a second filing deficiency notification within two business days, suspend trading in the issuer’s securities, and notify the Securities and Exchange Commission and the market within 24 hours. Consequently, trading in the shares of Regency Alliance Insurance Plc, International Energy Insurance Plc, and Universal Insurance Plc has been suspended from the facilities of the Nigerian Exchange Limited, effective Monday, September 1, 2025, for not filing their audited financial statements for the year ended December 31, 2024. The suspension will be lifted once the outstanding financial statements are submitted.”
The NGX further noted that the suspension would remain in force until the affected firms comply with the filing obligations. It emphasized that the regulatory action was taken to protect investors, strengthen transparency, and ensure adherence to market rules.
The Securities and Exchange Commission (SEC) has been duly notified of the development. Investors and stakeholders are advised to monitor official updates from the NGX regarding the possible reinstatement of trading once the companies regularize their filings.
This latest suspension highlights growing regulatory scrutiny on listed firms, as the Exchange continues its push for stronger corporate governance and timely disclosures in Nigeria’s capital market.
