NGX Suspends Zichi Trading After 772% Stock Surge

The Nigerian Exchange Group (NGX) suspended trading of Zichi Agro-Allied Industries Plc due to an extraordinary 772% surge in its stock price, which closed at N17.36 per share on February 20, 2026, up from a listing price of N1.81 on January 20, 2026. The suspension, effective February 23, 2026, is part of NGX's regulatory mandate to ensure fair and orderly trading and to safeguard investors.

The decision aligns with NGX's rules that empower the exchange to halt trading when necessary to protect the investing public. Zichi Agro-Allied Industries Plc listed 600 million ordinary shares on the NGX Growth Board, with a market valuation of approximately N1.19 billion.

The rapid price increase has triggered regulatory scrutiny, particularly as it significantly outpaced broader market performance. NGX's regulatory arm has advised market participants to be cautious and conduct thorough assessments of companies' financial performance and risk profiles to avoid speculative trading based on unverifiable information.