NGX Suspends Sterling Holdings Shares Over Reconstructed Equity

• NGX Regulation has suspended trading in Sterling Financial Holdings Company shares to facilitate reconciliation of its reconstructed equity.

• The company’s registrars and CSCS are reconciling their records to determine shareholders entitled to the reconstructed shares.

• The suspension took effect on Wednesday, September 23, 2026, and will prevent trading in the shares during the reconciliation process.

September 25, () – The Nigerian Exchange Regulation Limited (NGX RegCo) has suspended trading in the shares of Sterling Financial Holdings Company Plc to allow the reconciliation of the company’s reconstructed equities.

The suspension was disclosed in a notice signed by Bonaventure Onwuji on behalf of the Head of the Issuer Regulation Department.

Registrars, CSCS Reconcile Records

According to the regulator, Sterling Holdings’ registrars and the Central Securities and Clearing System Plc (CSCS) are working together to reconcile their records following the reconstruction of the company’s shares.

The reconciliation is expected to establish the shareholders entitled to receive the reconstructed shares and ensure that the relevant records are properly aligned before trading resumes.

NGX RegCo said the suspension was necessary to prevent transactions in the company’s shares while the reconciliation exercise is ongoing.

“Trading license holders and the investing public are hereby notified that trading in the shares of Sterling Financial Holdings Company Plc was suspended on Wednesday, September 23, 2026,” the notice stated.

Suspension Prevents Trading During Process

The regulator said the action would allow the registrars and CSCS to complete the reconciliation required for the listing of the reconstructed shares on the Nigerian Exchange.

“The suspension is also required for the purpose of determining the shareholders who are entitled to receive the reconstructed shares,” NGX RegCo said.

Sterling Financial Holdings is the holding company of Sterling Bank and is listed on the NGX.

The suspension does not represent a permanent delisting of the company’s shares but is intended to facilitate the administrative and settlement processes associated with the reconstructed equity.

NGX RegCo did not state in the notice when trading in Sterling Holdings shares would resume, indicating that the suspension will remain in place pending completion of the reconciliation process.