Royal Exchange clarifies relationship with REPRU, denies ownership claims

Royal Exchange Plc has issued a clarification regarding its relationship with Royal Exchange Prudential Life Plc (REPRU), following NAICOM's revocation of REPRU's operating licence. In a statement dated September 11, 2026, Lovelyn Aniekwe, the company secretary of OOT Nominees Ltd, which acts as the nominee for Royal Exchange, affirmed that the insurer's ownership and control were detached from Royal Exchange in August 2022.

Despite having been a part of the Royal Exchange Group and retaining the Royal Exchange branding, REPRU has since operated independently. The company emphasized that REPRU's financial standing, business activities, regulatory obligations, and current status are wholly distinct from those of Royal Exchange Plc. NAICOM's decision to revoke REPRU's licence, which transpired on August 4, 2026, does not affect Royal Exchange's own operations, assets, liabilities, regulatory standing, or financial health.

The company reiterated its dedication to robust corporate governance, adherence to regulatory standards, and disciplined financial stewardship, while expressing gratitude to shareholders and stakeholders for their ongoing trust and backing. This clarification comes amidst ongoing scrutiny following NAICOM's industry-wide recapitalisation initiative, a significant overhaul in Nigeria's insurance sector aimed at bolstering financial resilience, solvency, and consumer protection, and fostering greater investor confidence.