NGX Warns Tantalizers, NPF Microfinance Over Insider Trading
Nigerian Exchange Limited (NGX) issued warnings to Tantalizers Plc and NPF Microfinance Bank Plc for insider dealings during closed periods, despite both stocks surging 116% and 85.7% year-to-date. The Exchange cited breaches of Rule 17:18, which prohibits trading during material information windows. Tantalizers gained N5.40 (116% YTD) after securing N2 billion investment for entertainment expansion, while NPF Microfinance rose to N6.89 (85.7% YTD) post-rebound to profitability. This follows heightened regulatory scrutiny after Zichis Agro-Allied's 772% surge led to trading suspension. Market analysts stress that sustained enforcement is critical to protect minority shareholders from undisclosed material information risks.