The Nigerian Exchange Ltd. (NGX) has lifted the trading suspension on the shares of Mutual Benefits Assurance Plc, effective Thursday, March 20, 2025.
This decision allows shareholders to resume trading the company’s shares on the NGX platform.
The insurance firm had been suspended since July 8, 2024, for failing to file its financial accounts within the required timeframe, as stipulated in Rule 3.1 of the NGX’s Rules for Filing of Accounts and Treatment of Default Filing.
The regulation mandates that if an issuer does not submit its financial statements within the cure period, trading in its securities will be suspended.
Audited financial reports are now submitted
In an official statement, the NGX confirmed that Mutual Benefits Assurance Plc has now filed its Audited Financial Statements (AFS) for the year ended December 31, 2023, along with its outstanding Unaudited Financial Statements for 2024.
The Exchange stated that, under Rule 3.3 of the Default Filing Rules, the suspension has been lifted as the company has met the required filing conditions.
Trading resumes on Mutual Benefits Assurance shares
“The Exchange is satisfied that the accounts comply with all applicable rules. Therefore, trading on Mutual Benefits Assurance Plc shares resumed on March 20, 2025,” the NGX confirmed.
With the lifting of the suspension, investors can once again trade the company’s shares, signalling a return to compliance and market activity for the insurance firm.
