Nigeria, Feb. 23 -- The Nigerian Exchange (NGX) is taking aim at Zichis Agro-Allied Industries Plc, its latest equity listing, and has barred further trading in the company's shares after findings showed the stock's price jumped more than ninefold barely one month after it was admitted to the exchange.

The bourse told traders and the investing public in a Monday note that it will call off Zichis' suspension, which comes into effect on 23 February, once its inquiry into the firm's trading activities is over.

Invoking a section of its rulebook that spells out the procedure for the suspension of trading in listed equities, the NGX said it "may, in accordance with any of its rules, place the trading of any security on suspension."

The exch...