The Nigerian Exchange Limited (NGX) has suspended trading in the shares of three insurance companies — Regency Alliance Insurance Plc, International Energy Insurance Plc, and Universal Insurance Plc — for failing to file their audited financial statements for the year ended December 31, 2024.

The suspension, which took effect on September 1, 2025, was announced in a statement by the NGX on Monday.

According to the exchange, timely submission of financial results is critical to maintaining investor confidence and market transparency. It stressed that listed companies must adhere strictly to regulatory deadlines.

“Trading license holders and the investing public are hereby notified that, pursuant to Rule 3.1 of the Rules for Filing of Accounts and Treatment of Default Filing, the Exchange will suspend trading in the issuers’ securities and notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension,” the statement read.

The suspension will remain in force until the affected insurers submit their outstanding audited accounts and comply with all default filing rules.

Analysts say the move highlights the NGX’s determination to enforce corporate governance standards, especially in the insurance sector, which has often been criticized for reporting delays.

For investors, this means trading in the companies’ shares is effectively frozen for now, locking up their value and potentially dampening market sentiment if the delay continues.

By taking this step, the NGX has sent a strong message: regulatory deadlines are non-negotiable, and companies must take compliance seriously.