Probe: NGX Regco Cuts Zichis Agro-Allied Share Price by 50%
The Nigerian Exchange (NGX) regulator has lifted its suspension on Zichis Agro-Allied shares following the conclusion of its probe into the company’s sharp price movement.
The ago-alied share price was cut to N8.58 from N17.36 as of February 20, according to data tracked by MarketForces Africa. Zichis has gained 9.91% in early trading on Monday, trading at N9.43.
The authority announced on Monday that trading in the shares of Zichis Agro-Allied Industries Plc has officially resumed, bringing to an end a regulatory suspension in place since late February.
In a statement, NGX Regulation Limited (NGX RegCo), announced that it has concluded its investigation into unusual trading activities in the company’s stock and has taken corrective actions to protect market integrity.
The suspension, imposed on 23 February 2026 under the Exchange’s rules governing trading in listed securities, aimed to allow the regulator to review the circumstances surrounding transactions in Zichis’ shares.
With the probe now completed and safeguards implemented, the Exchange confirmed that trading in the stock was reinstated effective Monday, 23 March 2026.
According to Cowry Asset Management Limited, this development signals the regulator’s continued oversight of market conduct, reinforcing efforts to ensure transparency and maintain investor confidence in Nigeria’s equities market. Nigeria, UK Sign £746m Deal to Refurbish Two Lagos Ports
