The Nigerian Exchange Limited (NGX) has delisted the securities of STACO Insurance Plc from its Daily Official List following the revocation of the company’s operating licence by the National Insurance Commission (NAICOM).
The delisting took effect on Monday, September 21, 2026, according to a Market Bulletin issued by NGX Regulation and signed by Godstime Iwnekhai, Head, Issuer Regulation Department.
The Exchange said the decision followed the revocation of STACO Insurance’s operating licence by its primary regulator, NAICOM, effective August 3, 2026.
Consequently, NGX Regulation stated that the company’s securities were no longer considered suitable for continued listing and trading on the Exchange.
“The securities of STACO Insurance Plc (STACO Insurance or the Company) have been delisted from the Daily Official List of Nigerian Exchange Limited (NGX) effective today, Monday, 21 September 2026, as a result of the revocation of the Company’s operating license by its primary regulator, the National Insurance Commission (NAICOM), effective 3 August 2026,” the Exchange stated.
The delisting was carried out pursuant to Clause 14 of the Amended Form of General Undertaking for Listing on Nigerian Exchange Limited.
The clause empowers the Exchange, at its sole and absolute discretion, to suspend trading in the securities of a listed issuer, delist such securities or remove the issuer from its Daily Official List, with or without prior notice, where the issuer fails to comply with the provisions of the General Undertaking.
The provision also allows NGX to take such action where it determines that suspension of trading or delisting is in the public interest or is otherwise warranted.
In its notification, NGX Regulation said trading licence holders and the investing public were being formally notified of the delisting.
The development means that STACO Insurance’s securities will no longer be available for normal trading on the Nigerian Exchange following the regulatory action by NAICOM.
The delisting comes after NAICOM revoked the insurer’s operating licence on August 3, 2026. The commission is the primary regulator of insurance companies in Nigeria and is responsible for regulating and supervising the insurance industry.
NGX Regulation said the revocation of the operating licence rendered STACO Insurance’s securities unsuitable for continued listing and trading on the Exchange.
The development also highlights the linkage between regulatory compliance in the insurance industry and the continued eligibility of insurance companies to maintain their status as quoted entities on the Nigerian capital market.
STACO Insurance had been one of the insurance companies quoted on the NGX before the latest regulatory action.
The Exchange, in accordance with its listing rules, said the decision was necessary following the regulatory status of the company.
The delisting is therefore not described by NGX as a voluntary delisting by STACO Insurance, but as a regulatory delisting arising from the revocation of the company’s operating licence by NAICOM.
NGX Regulation concluded its notice by informing trading licence holders and the investing public of the effective date of the delisting.
