SUNU Assurances Nigeria Plc has announced its commitment to achieve full compliance with the Nigerian Exchange Limited (NGX) free float requirement by November 4, 2026, as part of its ongoing efforts to strengthen regulatory alignment and enhance market transparency.
In a statement signed by Taiwo Kuku, Company Secretary, the insurer said the Board of Directors has resolved to take all necessary measures to meet the minimum free float threshold prescribed by the NGX for listed companies.
The move underscores the company’s dedication to maintaining market integrity, investor confidence, and robust corporate governance practices.
The free float rule requires a defined percentage of a listed company’s shares to be held by public investors to ensure adequate liquidity and broad participation in the trading of its securities.
SUNU Assurances acknowledged that non-compliance within the stipulated period could attract regulatory actions, including suspension of trading or potential delisting in line with NGX rules.
According to the company, several strategic measures are being considered to facilitate compliance ahead of the deadline. While details were not disclosed, SUNU assured shareholders that progress updates will be communicated as implementation advances.
The insurer reaffirmed its commitment to sustainable growth, transparency, and adherence to the highest corporate governance standards as it works toward full regulatory conformity.