Shareholders count losses as Universal Insurance stock crashes after NAICOM licence revocation

Shareholders person started counting their losses aft the Nigerian National Insurance Commission, NAICOM revoked the licence of Universal Insurance, besides known arsenic Univinsure.

DAILY POST reports that NAICOM’s revocation of Univinsure’s licence took effect connected August 14, 2026.

NAICOM said Univinsure failed to rise its N15 cardinal superior aft the July recapitalisation deadline elapsed.

In enactment with the enforcement of the Nigerian Industry Reform Act 2025, Univinsure’s licence was revoked.

Consequently, the company’s banal has been connected a dependable decline, putting shareholders successful agony.

Details of the firm’s trading connected the NGX showed that the banal has declined by 36 percent to 77 kobo successful 2026 truthful far.

According to a fiscal adept known arsenic Rufybaba connected X, pursuing Univinsure’s licence revocation, the steadfast whitethorn ne'er commercialized connected the Nigerian banal marketplace again.

This means that shareholders of Univinsure look an estimated N13.6 cardinal loss.

“So acold successful 2026, however, the banal has declined by 36% to 77 kobo. Given the caller licence revocation, it whitethorn ne'er commercialized again,” helium wrote.

He added that, “The company’s adjacent measurement is to name a receiver oregon liquidator. Its assets volition past beryllium sold, the proceeds utilized to settee outstanding liabilities and immoderate residual worth distributed to shareholders.”<...