Nigerian Exchange Halts Trading In Zichis Agro-Allied Shares

The Nigerian Exchange has suspended trading in Zichis Agro Allied Industries Plc, pending an investigation into the Company’s shares.

The suspension was announced in a Market Bulletin issued to dealing members on Monday, which stated that “trading license holders and the investing public are hereby notified that pursuant to the provisions of Rule 7.0, rules on suspension of trading in listed securities, rulebook of the Exchange, which states that notwithstanding any of the foregoing provisions, the Exchange, may in accordance with any of its rules, place the trading of any security on suspension.

“It may also do so if it is of the view that such suspension will be in the interest of the investing public and in accordance with the SEC rules, the shares of Zichis Agro-Allied Industries have been suspended from trading on the facilities of Nigerian Exchange Limited, effective today, Monday, February 23, 2026.”

It added that the suspension of trading in Zichis shares shall be lifted upon the conclusion of an investigation into the trading activities on the Company’s shares.

Listed just over a month ago on the NGX Growth Board, the company has seen an exceptional surge in its share price. Introduced at N1.81 on January 20, 2026, the stock closed on February 20th at N17.36 per share, representing a cumulative gain of 859.12 per cent in one month.

NGX Regulation Limited (NGX RegCo), has issued an advisory to the investing public in response to notable price movements observed in the shares of certain listed companies over recent trading sessions.

Issued as part of NGX RegCo’s standard market surveillance functions, the advisory serves as a measured reminder for investors to prioritize informed and disciplined decision-making. The Exchange continues to monitor market activities closely in line with its mandate to ensure a fair, orderly, and transparent market.

Speaking, the managing director and chief executive officer of APT Securities and Funds Limited, Kasimu Kurfi emphasized that regulators possess the authority to suspend trading of any stock if deemed necessary.

“Currently, the company is under investigation, and the regulators are conducting their inquiries. Should they uncover any discrepancies, they will demand accountability from the involved brokers or the company, while assuring that if no serious issues are identified, trading will continue as usual,” he explained.

He underscored the importance of this regulatory oversight, clarifying that such actions are standard practice aimed at protecting the integrity of customer investments, saying that it is vital for all listed companies to maintain a high level of confidence among investors, particularly because the firm in question is relatively new, without an extensive track record in terms of dividends or historical performance.