NGX Warns Tantalizers, NPF Microfinance Bank Over Violations

The Nigerian Exchange (NGX) has cautioned Tantalizers PLC and NPF Microfinance Bank PLC regarding violations of closed-period trading regulations. The warnings were issued in letters dated February 10 and February 17, 2026, as part of the exchange's efforts to maintain market discipline and investor confidence.

Both companies have seen unusual price movements, with Tantalizers PLC's share price rising by 116% year-to-date, closing at N5.40 on February 23, 2026, and NPF Microfinance Bank PLC's share price increasing by 85.7%, closing at N6.89 on the same date. The NGX emphasized the importance of adhering to rules that restrict insider trading during sensitive periods when material financial information has not yet been disclosed.

The exchange's commitment to enforcing these rules is aimed at ensuring a fair and transparent market, particularly as investor appetite for high-performing stocks remains strong.