The Nigerian Exchange Limited (NGX) has cautioned three companies – Aradel Holding Plc, ABC Transport Plc, and Cutix Plc – for breaching certain provisions of the Listings Rules.

The NGX disclosed these sanctions in its enforcement report contained in the February 28 X-Compliance Report.

The X-Compliance Report is a transparency initiative of NGX Regulation Limited (NGX RegCo) designed to maintain market integrity and protect investors by providing compliance-related information on all listed companies.

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The NGX said Aradel Holding Plc was given a caution letter on February 17, 2025 for “Insider dealing in shares during Closed Period, a breach of the provisions of Rule 17:18: Period of Closure”.

It also said ABC Transport Plc was given caution letter on February 20, for “Insider dealing in shares during Closed Period a breach of the provisions of Rule 17:18: Period of Closure”.

While Cutix Plc was given caution letter February 28 for “Insider dealing in shares during Closed Period a breach of the provisions of Rule 17:18: Period of Closure”.

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On non-disclosure of material information, the NGX said “Every listed company is required to provide NGX with timely information to enable it efficiently to perform its function of maintaining an orderly market.

“In accordance with the provisions of Appendix III: General Undertaking (Equities), Rulebook of NGX, 2015 (Issuers’ Rules) and NGX’s Circular No.

NSE/LARD/LRD/CIR3/17/05/12 on publication of announcements or press releases via the Issuers’ Portal, listed companies are required to obtain prior written
approval from NGX RegCo before publications that affect shareholders’ interests are made in the media or via the Issuers’ Portal.

“In addition, companies are also required to disclose material information to NGX and publish the information in their annual reports,” the NGX said.

Companies that are listed on Nigerian Exchange Limited (NGX) are required to adhere to high disclosure standards which are prescribed in the Rulebook of NGX, 2015 (Issuers’ Rules), and other Rules of NGX, from time to time.

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Financial information, which is periodic disclosures, as well as ongoing material information disclosures, should be released to NGX in a timely and immediate manner to enable it efficiently to perform its function of maintaining an orderly market. The X-Compliance Report is updated every Friday at the close of market.

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. 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).

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