Regency Alliance Insurance witnessed trading activity on the local stock exchange last week after the Nigerian Exchange (NGX) Limited lifted the suspension earlier place on it on Monday, September 1, 2025.
The regulator stopped the buying and selling of the company’s securities, including shares and others, on its platform.
This was due to the failure of the board of the underwriting firm to file its audited financial statements for the 2024 fiscal year.
The NGX in a notice to the investing community earlier this month said the organisation violated a part of its listing rules.
The stock exchange said it was forced to slam the hammer on Regency Alliance based on the provisions of 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 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 24 hours of the suspension.
After the shareholders and investors could not trade its equities on the Nigerian bourse, the board released the outstanding results, prompting the NGX to lift the embargo on Tuesday, September 9, 2025.
In another notice to the market, the NGX said, “The company has now filed its Audited Financial Statements for the year ended December 31, 2024, (2024 AFS) and outstanding Unaudited Financial Statements for 2025.
“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 Regency Alliance Insurance Plc was lifted on Tuesday, September 9, 2025.”