Universal Insurance Plc has secured an extension of the restraining order against the National Insurance Commission and the receiver appointed over the company, as its legal challenge against the regulatory action continues.
The company disclosed this in a notice to the Nigerian Exchange Limited and the investing public dated September 4, 2026.
The suit came up for hearing on Thursday, 3 September, before the Federal High Court sitting in Lagos. However, the matter could not proceed as scheduled due to the late filing of court processes by the respondents, according to the insurer.
Consequently, the court extended the restraining order previously granted against NAICOM and the appointed receiver pending the hearing of the substantive suit. The court adjourned the matter until 16 September, 2026, when the main suit is expected to be heard.
Universal Insurance said it remains committed to pursuing all available legal and regulatory avenues to protect the interests of its shareholders, policyholders, employees and other stakeholders.
