NGX lifts suspension of trading in shares of Zichis Agro-Allied Industries

…share price adjusted to N8.58 upon resumption

The Nigerian Exchange Limited (NGX) has lifted the suspension of trading in the shares of Zichis Agro-Allied Industries Plc.

The lifting of the suspension follows a month-long investigation by NGX Regulation Limited (NGX RegCo) into the stock’s extraordinary price movement, which saw it surge about 772.36 percent within weeks of its January listing.

Trading in Zichis was suspended on February 23, 2026. The stock, which listed on the Growth Board at N1.81 on January 20, hit N17.36 in exactly one month.

Related News

The rapid appreciation raised concerns regarding a potential liquidity trap for retail investors and prompted the regulator to freeze trading to protect market transparency.

Upon resumption, the share price was adjusted to N8.58, down from its pre-suspension close of N17.36. The price drop is largely attributed to a markdown for a 1-for-1 bonus issue and a 20 kobo dividend per share. The qualification date for these benefits was March 16, 2026.

In early trading on Monday, the stock showed immediate buy interest, gaining roughly 9.91 percent as at 1 pm to trade around N9.43 per share.

NGX in its notice of the lifting signed by Godstime Iwenekhai, Head, Issuer Regulation Department, said, “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 and has implemented corrective measures to safeguard market integrity in line with its mandate to promote a fair, orderly and efficient market”.

“Accordingly, the suspension placed on trading in the shares of Zichis Agro-Allied Industries Plc has been lifted, effective Monday March 23, 2026,” NGX noted.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.