The Nigerian Exchange Limited has lifted its suspension on trading in the shares of Zichis Agro-Allied Industries Plc, effective 23rd March, following the conclusion of a regulatory investigation into the company’s trading activities.
The suspension, which was announced on 23rd February, was triggered by an extraordinary surge in the company’s share price — a climb of 772 per cent to ₦17.36 from its listing price of ₦1.81 on 20th January, a movement that prompted NGX Regulation Limited to intervene.
Read Also: Low-priced tech stocks lead NGX gains in 2026
In a market bulletin issued by Godstime Iwenekhai, head of the issuer regulation department, the exchange said NGX Regulation Limited had concluded its investigation and implemented corrective measures to safeguard market integrity. “Trading Licence Holders and the investing public are hereby informed that NGX Regulation Limited has concluded its investigation into the trading activities in the company’s shares,” the notice read.
The exchange said the measures were consistent with its mandate to promote a fair, orderly, and efficient market, without disclosing the specific nature of the corrective action taken.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
