NGX Regulation Limited has officially lifted the suspension on trading the shares of Zichis Agro-Allied Industries Plc, following a month-long investigation into the company’s market activities.
The decision, communicated via a market bulletin on Monday, marks the return of the agro-allied firm to the daily official list of the Nigerian Exchange. The suspension, which was originally triggered on 23 February 2026, had frozen all transaction activities involving the company’s securities to allow for a regulatory review.
In the bulletin signed by the Head of the Issuer Regulation Department, Godstime Iwenekhai, the Exchange clarified that the intervention was necessary to maintain the sanctity of the trading floor.
“NGX Regulation Limited has concluded its investigation into the trading activities in the Company’s shares and has implemented corrective measures to safeguard market integrity,” the statement read.
The regulatory body emphasised that these actions were taken in line with its mandate to “promote a fair, orderly and efficient market” for all stakeholders.
Zichis Agro-Allied was initially sidelined under Rule 7.0 of the Rulebook of the NGX, which grants the NGX the authority to halt trading when there are concerns regarding price manipulation, insider information, or non-compliance with disclosure requirements.
While the specific details of the “corrective measures” were not explicitly outlined in the bulletin, the lifting of the ban suggests that the company has met the Exchange’s transparency requirements.
“The suspension placed on trading in the shares of Zichis Agro-Allied Industries Plc has been lifted, effective Monday, 23 March 2026,” Iwenekhai confirmed.
The resumption of trading is expected to provide much-needed liquidity for shareholders who have been unable to exit or enter positions for the past 30 days. Market analysts suggest that the “corrective measures” mentioned by the NGX likely involve stricter reporting oversight or internal governance adjustments within Zichis to prevent future volatility spikes that triggered the initial probe.
The market bulletin concluded by directing Trading Licence Holders and the investing public to take note of the reinstatement:
“This is for your information,” the bulletin noted, signalling a formal close to the investigative chapter.
