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FULL LIST: NGX suspends eight companies from trading in shares

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10 months ago

The Nigerian Exchange Limited (NGX) has suspended trading in the shares of eight companies due to their failure to file audited financial statements for 2023.

This suspension, effective from July 8, 2024, was announced in a statement on Monday, signed by Godstime Iwenekhai, NGX’s Head of Issuer Regulation Department.

The affected companies are:

1. Guinea Insurance Plc
2. Lasaco Assurance Plc
3. Mutual Benefits Assurance Plc
4. C & I Leasing Plc
5. NPF Microfinance Bank Plc
6. Regency Alliance Insurance Plc
7. Secure Electronic Technology Plc
8. Unity Bank Plc

The NGX’s statement reads: “Trading License Holders and the investing public are hereby notified that pursuant to Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules), which provides that: ‘If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will: a) Send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period; b) Suspend trading in the Issuer’s securities; and c) Notify the Securities and Exchange Commission (SEC) and the Market within twenty-four (24) hours of the suspension’…”

“Trading in the shares of the eight (8) companies has been suspended from the facilities of Nigerian Exchange Limited (NGX) effective Monday, 8 July 2024 having failed to file their Audited Financial Statements for the year ended 31 December 2023.

“In accordance with the Default Filing Rules set forth above, the suspension of trading in the shares of the above-mentioned companies will only be lifted upon the submission of the relevant accounts.”

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