NGX suspends trading in shares of Thomas Wyatt

The Nigerian Exchange Limited (NGX) has suspended trading in the shares of Thomas Wyatt Nigeria Plc.

Trading in the shares of Thomas Wyatt Nigeria Plc was suspended from the facilities of Nigerian Exchange Limited (NGX) effective Tuesday February 11, 2025.

The company according to the NGX has not filed its audited financial statements for the year ended March 31, 2024 and Unaudited Financial Statements (UFS) for the periods ended June 30, 2024 and September 30, 2024.

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The NGX said that in accordance with the Default Filing Rules, the suspension of trading in the shares of the Company shall only be lifted upon the submission of the relevant financial statements.

The NGX notified trading license holders and the investing public that the decision was pursuant to the provisions of Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules), which states that: “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will: (a) send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period; (b) suspend trading in the Issuer’s securities; and (c) notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension”.

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Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.