BY NKECHI NAECHE-ESEZOBOR—The Nigerian Exchange Ltd. (NGX) on Wednesday lifted the suspension placed on trading on the shares of Universal Insurance Plc, effective WednesdaySeptember 3, 2025.
This development enables shareholders to resume trading the company’s shares on the NGX platform.
In its weekly report, the NGX stated, “We refer to our Market Bulletin dated 1 September 2025 with Reference Number: NGXREG/IRD/MB64/25/09/01 wherein we notified Trading License Holders and the investing public of the suspension in the trading on the shares of Universal Insurance Plc (the Company).”
According to NGX the rules mandated that “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, the Exchange will send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of
the Cure Period; suspend trading in the Issuer’s securities; and notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of
the suspension”.
Audited Financial Statements now filed
The Company has now filed its Audited Financial Statements for the year ended 31 December 2024 (2024 AFS) and
outstanding Unaudited Financial Statements for 2025.
It added that in view of the Company’s submission of its 2024 AFS, and pursuant to Rule 3.3 of the Default Filing Rules, which
states that; “The suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange.
“The Exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension, that the suspension has been lifted Trading License Holders and the investing public are hereby notified that the suspension placed on trading on the shares of Universal Insurance Plc was lifted today, Wednesday, 3 September 2025.
