Sovereign Trust Insurance shares return to stock market as NSE lifts ban

The Nigerian Stock Exchange (NSE) has lifted the recent trading suspension placed on shares of one of Nigeria’s leading underwriting firms, Sovereign Trust Insurance Plc.

In a release issued by the Exchange on July 11, 2017 and signed by the Acting Head, Listings Regulation Department, the Regulatory Body posited that, “the Exchange has lifted the suspension of trading in the shares of Sovereign Trust Insurance Plc after being cleared accordingly pursuant to Rule 3.3, Rules for filing of Accounts and Default Filing, Rulebook of the Exchange (Issuers’ Rules).

For many, this is very cheery a news especially for the shareholders of the company who have over the years been very supportive to the course of the fast-growing Insurance company in the country.

NEWSVERGE reports that Sovereign Insurance Plc posted a most impressive performance going by the first quarter unaudited accounts that was released by the Underwriting Firm in the wake of the month.

According to the Managing Director/CEO of the company, Olaotan Soyinka, “the development with NSE was rather unfortunate and regrettable, as the company never at any point in time, set out to flout the rules of the Regulatory Body in whatever manner.”

In circumstances like this, one can only take the constructive lessons learnt from the whole saga and ensure such occurrence does not happen again. We are avowedly committed to the ethics of our business and we will always continue to be a very responsible corporate citizen at all times, he added.