By Abubakar Yunusa
The Nigerian Exchange Limited (NGX) says the suspension placed on trading in the shares of Mutual Benefits Assurance Plc has been lifted.
In its weekly market report, the NGX said the suspension was lifted on March 20, allowing shareholders to resume buying and selling the company’s shares.
The exchange said the suspension was lifted after Mutual Benefits Assurance filed its audited financial statements for the year ended December 31, 2023, along with its outstanding unaudited financial statements 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)”.
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