Royal Exchange Plc Clarifies No Ties to REPRU After Licence Revocation

Royal Exchange Plc (ROYALEX) filed a clarification notice with the Nigeria Exchange Limited on September 14, 2026, pursuant to Rule 17, Part II of the NGX Rule Book 2015, addressing public reports concerning the revocation of Royal Exchange Prudential Life Plc's (REPRU) operating licence by the National Insurance Commission (NAICOM).

NAICOM revoked REPRU's licence on the grounds that the company failed to meet the applicable minimum capital requirement. Royal Exchange disclosed that it sold its interest in REPRU in August 2022, after which REPRU ceased to be a subsidiary or affiliate of the Company.

The filing states that REPRU's financial position, operations, regulatory status, and obligations are entirely separate from those of Royal Exchange. The Company asserted that the regulatory action against REPRU has no impact on its own financial position, operations, assets, liabilities, regulatory standing, or ongoing business.

Royal Exchange noted that REPRU continues to carry the Royal Exchange name despite the change in ownership. The Company stated its commitment to corporate governance, regulatory compliance, and financial responsibility, and affirmed its intention to continue engaging with regulators and stakeholders.