NGX Resumes Trading for Zichis Agro-Allied Industries Shares

The Nigerian Exchange (NGX) has lifted the suspension on trading shares of Zichis Agro-Allied Industries Plc, which had been in effect for one month due to an investigation into unusual price movements. The price of Zichis shares surged by 772.36 percent within a week of its listing on the Growth Board on January 20, reaching N17.36.

This rapid appreciation raised concerns about potential liquidity traps for retail investors, prompting the NGX to freeze trading to protect market transparency. Upon resumption of trading on March 23, 2026, the share price adjusted to N8.58, reflecting a significant decrease from its pre-suspension close of N17.36.

By 1 PM on the resumption day, the stock showed a buying interest, gaining approximately 9.91 percent and trading around N9.43 per share. Godstim Iwenekhai, head of the issuer regulation department at NGX, confirmed that the regulatory body concluded its investigation and implemented measures to safeguard market integrity in line with its mandate to promote fair, orderly, and efficient markets.