NSE suspends trading on GNI shares

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The Nigerian Stock Exchange (NSE) has placed a full suspension on Great Nigeria Insurance Plc (GNI) share trading.

The full suspension was sequel to the approval of the voluntary delisting of GNI, while struggling to meet the stringent corporate governance practices at the stock market.

The NSE had recently approved application for voluntary delisting by GNI, after the insurance company insisted on delisting its shares from the Exchange.

In the notice released to the bourse, it was noted that the full suspension on the shares of GNI became effective from Wednesday, January 9, 2019.

“Further to the market bulletin of December 13, 2018, wherein the market was notified of the approval of the Nigerian Stock Exchange to the application for the voluntary delisting of Great Nigeria Insurance Plc (GNI) from the daily official list of the exchange, dealing members are hereby notified that the shares of GNI was today, Wednesday, 9 January 2019 placed on full suspension.

“This suspension is required to prevent further trading in the shares of GNI,” the notice said.

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