Linkage Assurance Plc has received shareholder approval to initiate a ₦16 billion capital raise following resolutions passed at the Company’s Extraordinary General Meeting (EGM) held on November 25, 2025, in Lagos.
The approval marks a significant step in strengthening the insurer’s balance sheet and positioning it for long-term growth within Nigeria’s evolving insurance landscape.
According to the notice signed by Company Secretary Moses Onoroegbe, shareholders adopted the Board’s request to raise up to ₦16 billion or any higher amount that may be determined, through a combination of private placement, rights issue, public offer, or related equity instruments.
The Board now has full authority to determine pricing, terms, conditions, and timing of the capital raise, subject to regulatory approvals.
The EGM also approved the increase of the Company’s share capital to accommodate the new equity issuance.
The additional ordinary shares, which will rank pari passu with existing shares, will be registered with the Securities and Exchange Commission (SEC), the Corporate Affairs Commission (CAC), and the Nigerian Exchange Limited (NGX).
The Company’s Memorandum and Articles of Association will be amended accordingly in line with the Companies and Allied Matters Act (CAMA) 2020.
Shareholders further authorised the Board to appoint professional advisers, sign and execute all relevant documents, and take any steps necessary for the seamless implementation of the capital-raising programme.
All prior actions taken by the Board and Management in connection with the proposed fundraising were also ratified at the meeting.
The approval comes at a time when insurance operators are under increasing pressure to strengthen capital positions, expand underwriting capacity, and meet regulatory requirements.
Linkage Assurance’s Board stated that the capital raise is a strategic move to enhance operational resilience and support the Company’s long-term growth plans across key segments of the insurance market.
The meeting also reaffirmed confidence in the Company’s leadership, with shareholders endorsing the Board’s direction amid Nigeria’s rapidly changing insurance and risk environment.
