The Nigerian Exchange Limited (NGX) has removed the suspension of trading in Mutual Benefits Assurance Plc’s shares.
In its weekly market report, the NGX stated that the suspension was removed on March 20, allowing shareholders to continue buying and selling the company’s stock.
According to the exchange, the restriction was lifted after Mutual Benefits Assurance filed its audited financial statements for the fiscal year ending December 31, 2023, as well as its outstanding unaudited financial accounts for 2024.
“In view of the Company’s submission of its 2023 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 said.
“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 Mutual Benefits Assurance Plc was lifted on Thursday, 20 March 2025.”
Mutual Benefits Assurance was suspended on July 8, 2024, for failing to file its relevant financial statements within the required timeframe.
NGX said the suspension aligned with “Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules)”.
