NGX lifts suspension on Mutual Benefits Assurance shares

By Seun Ibiyemi

The Nigerian Exchange Limited (NGX) on Thursday removed the suspension imposed on the shares of Mutual Benefits Assurance.

The NGX disclosed this in its weekly report, which was made available to journalists over the weekend.

The company had been suspended on 8 July 2024 for failing to submit its required accounts within the stipulated timeframe.

This decision enables shareholders to once again buy and sell Mutual Benefits Assurance shares on the NGX platform.

The report stated: “We refer to our Market Bulletin dated 8 July 2024 with Reference Number: NGXREG/IRD/MB35/24/07/08, in which we informed Trading Licence Holders and the investing public of the suspension of trading in the securities of Mutual Benefits Assurance Plc.

“Mutual Benefits Assurance Plc has now submitted its Audited Financial Statements for the year ending 31 December 2023, along with its outstanding Unaudited Financial Statements for 2024.

“In light of the company’s submission of its 2023 AFS and in accordance with Rule 3.3 of the Default Filing Rules, which stipulates 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 regulations.

“The Exchange will also issue a public announcement via the same medium initially used to inform the public and the Securities and Exchange Commission (SEC) of the suspension, confirming that the suspension has been lifted.

“Trading Licence Holders and the investing public are hereby informed that the suspension on trading in the shares of Mutual Benefits Assurance Plc was removed on Thursday, 20 March 2025.”