NGX Lifts Suspension on Universal Insurance as Firm Meets Financial Reporting Obligations

The Nigerian Exchange Limited (NGX) has officially restored trading rights to Universal Insurance Plc, following the insurer’s compliance with its regulatory filing requirements. This development ends weeks of suspension that had restricted investors from trading the company’s shares.

In a market notice released on Wednesday, NGX confirmed that Universal Insurance had submitted its audited financial statements for the year ending December 31, 2024, along with its pending unaudited reports for 2025. With these filings, the Exchange announced that the suspension placed on the insurer’s shares was lifted, giving shareholders and investors full access to trade once again.

“The Exchange shall thereafter also announce through the medium by which the public and the Securities and Exchange Commission were initially notified of the suspension that the suspension has been lifted,” NGX stated. It further noted that the reinstatement was in line with Rule 3.3 of the Default Filing Rules, which permits lifting of a suspension once compliance is verified.

Universal Insurance had been sanctioned earlier for failing to meet the deadline for its 2024 audited accounts. The suspension came as part of NGX’s enforcement of strict reporting obligations designed to boost market transparency and protect investors’ confidence in listed companies.

The return of Universal Insurance to active trading marks a relief for shareholders who had been unable to transact during the suspension. Market watchers say the development underscores NGX’s ongoing efforts to ensure listed companies maintain regulatory discipline while safeguarding the integrity of Nigeria’s capital market.

Source: Punch