Unity Bank, LASACO shares suspended due to compliance failure

Unity Bank’s shares have been suspended on the stock exchange, due to lack of compliance to regulations. Facing similar issue as Unity Bank are Lasaco Assurance, C&I Leasing Plc, Guinea Insurance, Mutual Benefits Assurance, NPF Microfinance Bank, Regency Alliance Insurance, and Secure Electronic Technology Plc.

The regulatory body, NGX Group, said that the affected companies failed to file their relevant accounts for 2023.

Godstime Iwenekhai, Head of the Issuer Regulation Department, wrote this in a market bulletin released on Monday.

He wrote: “Trading in the shares of the eight companies below have been suspended from the facilities of Nigerian Exchange Limited (NGX or The Exchange) effective today, Monday, 8 July 2024 for not filing their Audited Financial Statements for the year ended 31 December 2023.”

TheCornet reports that the shares of the defaulting companies would be relisted once they comply with the rules.


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